Chinese President Xi Jinping met in Beijing with EU leaders Ursula von der Leyen and Charles Michel, presidents of the Commission and the Council. This is reported by the state agency Xinhua.
The program, based on information released the evening before, includes a working lunch by Von der Leyen and Michel with a meeting with Xi. The EU leaders will then chair the 24th bilateral summit with Prime Minister Li Qiang before attending the official dinner and press conference at the EU representation in Beijing in the evening.
China and the EU must respond “together to global challenges”. President Xi Jinping urged “joint work to achieve political trust” at a meeting with his European counterparts Ursula von der Leyen and Charles Michel in Beijing. To this end, both sides should “intensify efforts” to “be partners in mutually beneficial cooperation, constantly strengthen mutual political trust” and reach strategic consensus, Xi stressed. China-EU relations “are experiencing a good moment of consolidation and growth” and serve “the interests of both sides and the expectations of our peoples. We should work together to maintain the growth momentum of bilateral relations,” Xi added at a meeting at the Diaoyutai State Guest House with von der Leyen and Michel, said the text released by Beijing Diplomacy.
The Chinese president noted that “changes are taking place in the world on a scale never seen in a century,” stressing that China and Europe are “two great forces that promote multipolarity, two great markets that supporting globalization, and two great civilizations supporting diversity, “We have a relationship that is “essential to global peace, stability and prosperity. It is up to both sides to give the world more stability, more impetus for development and inspiration and support for global governance.”
Noting that 2023 marks the 20th anniversary of the China-EU Comprehensive Strategic Partnership, Xi spoke of a “new starting point of relations” that “follows the world trend, acts with and maintains wisdom and responsibility.” “must describe the appropriateness of our relationship as a global strategic partnership”. China and the EU should be partners “for mutually beneficial cooperation”, continuously strengthen bilateral political trust, build strategic consensus and strengthen the bonds of common interests. We should, Xi concluded, avoid various types of interference and intensify dialogue and cooperation for the benefit of our peoples. We should join forces to address global challenges and promote stability and prosperity around the world.”
The imbalances and differences between the EU and China “must be resolved”. This was said by European Commission President Ursula von der Leyen in opening remarks to the media at the meeting with President Xi Jinping. “China is the EU’s most important trading partner, but there are clear imbalances and differences that need to be resolved,” emphasized von der Leyen.
European Council President Charles Michel said the EU seeks a “stable and mutually beneficial” relationship with China. In the opening remarks of the meeting with President XI Jinping, Michel assured that “we agree to seek a stable and mutually beneficial relationship with China” and added that Brussels wants relations based on “principles of transparency, predictability and reciprocity”.
China posted a trade surplus of $68.39 billion in November, higher than the $66.49 billion in the same month of 2022 and well above the $58 billion analysts had estimated the previous evening. Data released by Chinese Customs benefited from exports surprisingly returning to positive territory – for the first time in 7 months – thanks to marginal growth of 0.5% against expectations of -1.1%, while imports compared to the forecasts fell by 0.6% from +3.3%.
Chinese exports rose slightly in November, breaking a streak of six consecutive monthly declines: +0.5% year-on-year (to $291.93 billion) versus -6.4% in October. However, imports fell by 0.6% (to 223.5 billion) from +3% in October. The slowdown in international trade is one of the biggest pressure points for Beijing’s leadership, which is grappling with a real estate crisis, low domestic consumption and weak manufacturing. Beijing has launched a diplomatic offensive from mid-2023 to try to improve relations with its key US-EU trading partners after foreign investors began diversifying their portfolios to the detriment of the Dragon, driving capital flows into decline and the collapse of foreign direct investment. Exports helped support China’s economy during the three years of the pandemic when the country was sealed off from the world, but after anti-Covid restrictions were lifted they struggled to remain positive as they fell below the high Global inflation and the rise in interest rates suffered. This slowed international demand. In the first eleven months of 2023, the trade surplus recorded an annual decline of 2.7% to 684.04 billion, with exports falling by 5.2% (to 3,080 billion) and imports falling by 6%. Today, EU heads of state and government, including Ursula von der Leyen and Charles Michel, President of the European Commission and of the Council, are in Beijing, where they have already met with President Xi Jinping as part of the upcoming 24th bilateral summit in the evening . On the agenda are the attempt to offset China’s huge trade surplus (almost 400 billion euros in 2022) and European resistance to pro-Russian “neutrality” in Moscow’s war against Ukraine. In the first eleven months of the year, the EU is China’s second largest trading partner behind the ASEAN countries. Exports to Brussels fell 5.8% annually, while those to the United States fell 8.5%.
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