Latest news with #EU-ChinaSummit
South China Morning Post
25-07-2025
- Business
- South China Morning Post
EU-China cooperation ‘only right choice', Premier Li Qiang says at business symposium
China and Europe should foster a 'healthy' economic relationship characterised by both competition and cooperation, the Chinese premier told European Union leaders and businesses on Thursday. At a business symposium held on the sidelines of the EU-China Summit on Thursday, Li Qiang urged both sides to find new grounds for collaboration. 'China and the EU can further leverage their complementary economic strengths, focusing on areas such as services trade, technological innovation, the green economy, and third-party cooperation to cultivate more new growth drivers for collaboration,' Li said, according to Xinhua. 'Looking back at the 50-year history of diplomatic relations between China and Europe, cooperation remains the only right choice for both sides.' Amid rising protectionism and unilateralism, if China and Europe join hands in upholding free trade and multilateralism while deepening economic and trade collaboration, they can serve as a stabilising anchor for economic globalisation and the stability of global industrial and supply chains, Li was quoted as saying. Li and European Commission President Ursula von der Leyen, along with other Chinese and EU officials, attended the symposium, which hosted nearly 60 representatives from business chambers and companies.
AllAfrica
11-07-2025
- Business
- AllAfrica
China's patience wears thin with EU over medical device row
Political tensions between the European Union and China have grown after the bloc restricted Chinese enterprises and products from participating in public procurement of medical devices, while Beijing launched retaliatory measures. The growing tensions may impact the EU-China Summit, currently scheduled to be held in China July 24-25 to commemorate the 50th anniversary of EU-China diplomatic relations. Both sides planned to hold the first day of the meeting in Beijing and the second in Anhui, a hub for China's high technologies such as quantum computing, fusion energy, and biotechnology. However, Bloomberg reported that the Chinese government may cancel the second-day activity. On June 20, the European Commission, the EU's executive body, excluded Chinese companies from the EU government's procurement of medical devices exceeding €5 million (US$5.84 million). The EC said the measure seeks to incentivize China to cease discriminating against EU firms and EU-made medical devices, and to treat EU companies with the same openness as the EU treats Chinese companies and products. It added that the move is a response to China's long-standing exclusion of EU-made medical devices from Chinese government contracts. Wang Yi, China's foreign minister and a member of the Communist Party of China (CPC)'s politburo, met with President of the European Commission Ursula von der Leyen in Brussels on July 2. Wang said the EU and China, two great civilizations and major forces, should strengthen communication, enhance mutual trust, and assume responsibilities amid the increasingly complex and challenging international landscape. Wang also held a four-hour meeting with the European Commission's High Representative for Foreign Affairs and Security Policy, Kaja Kallas, on the same day. The Chinese government has not yet confirmed whether the EU-China Summit will end earlier. Some commentators have suggested that the potential shortening of the Summit is retaliation against the EU's suppression of China's medical device sector. 'There is no fundamental conflict between China and the EU, but rather extensive common interests,' Wang said. 'Today's Europe faces various challenges, but these challenges have not come from China in the past, present or future.' He urged the EU to develop a more objective and rational understanding of China and adopt a more positive and pragmatic policy toward it. According to a South China Morning Post report, Wang told Kallas that Beijing did not want to see a Russian loss in Ukraine because it feared the US would then shift its whole focus to China. The report stated that some EU officials were taken aback by the frankness of Wang's remarks. To retaliate against the EU's new medical device procurement measure, the Chinese Ministry of Finance announced on July 6 that it excludes EU companies from participating in China's medical device procurement exceeding 45 million yuan (US$6.3 million). The new rule does not apply to medical devices that can only be sourced from the EU. It has come into effect immediately. China also imposed 'anti-dumping' taxes of up to 34.9% on brandy imported from the EU starting July 5. 'In July 2025, China launched precise countermeasures against the EU: shortening the EU-China summit, restricting the purchase of Europe's medical equipment, and imposing tariffs on brandy, sending a clear signal that China's tolerance has come to an end,' Li Yan, a columnist and a medical expert in Nanjing, says in an article. 'As the competition between China and the United States becomes the main theme of the world today, the EU can no longer play both sides between the world's two largest economies as it did in the past,' Li says. 'The EU wanted to take advantage of the US-China tensions and asserted pressure on China to create a diplomatic bargaining chip in the EU-US trade negotiations,' she says. 'However, this strategy ignores the changes in China, which is no longer the world factory that only seeks market share and swallows its anger, but a global power that has the ability, willingness, and means to defend its national interests.' She says Beijing's stance is clear: China is willing to talk, but is not afraid of confrontations. EU-China relations turned sour against the backdrop of the EU-US trade negotiations. After US President Donald Trump announced reciprocal tariffs for all major countries on April 2, including a 20% tariff for the EU, he agreed to charge them only a 10% tariff within 90 days from April 9. The Financial Times reported that on June 17, the EU abruptly canceled a planned economic and trade dialogue with China. The EU has reportedly expressed concerns about China's stance on Russia's war in Ukraine, market access barriers, and overall trade imbalances. 'When the EU suddenly called off the China-EU high-level economic and trade dialogue on June 17, the reason was that there was no progress in the trade talks,' Sima Pingbang, a Shanxi-based columnist, says in an article. 'But look at what the EU has done – imposing a 35.3% punitive tariff on Chinese electric vehicles, restricting Chinese companies from participating in its medical equipment procurement, hyping up the dairy subsidy investigation and even sanctioning two Chinese banks for 'aiding Russia,'' Sima writes. 'Chinese Foreign Minister Wang Yi's 'strategic dialogue in Brussels on July 2 was more like an ultimatum to the EU,' he says. 'Kallas said the EU would prepare for the upcoming Summit, but she did not compromise anything on the sanctions list. China's patience finally ran out.' Sima says the EU now understands that Beijing's patience is not for any 'partners' who stab China in the back. He says there is still some time before the EU-China Summit, perhaps the EU side will change its mind. A researcher from China's Choyon Information Technology, citing data from MedTech Europe, said the total EU public medical procurement in 2024 was €42 billion, of which €13.1 billion, or 31.2%, involved Chinese suppliers. The top three products sourced from China are: MRI coils (35%), high-end CT (28%) and cardiac interventional devices (24%). The researcher said that to find alternatives to these products, European firms need to pay additional costs of up to 60%. That means €7.8 billion. In 2024, French brandy exports to China totaled approximately €1.4 billion per year. A 35.3% punitive tariff imposed by China translates to a tariff payment of €494 million. Some observers have said that these costs are significant to the EU and its firms, but they are tiny compared with the tariffs that the bloc would have to pay the US if the EU-US trade negotiations collapse. In 2024, the EU's total exports to the US totaled €532.3 billion, resulting in a trade surplus of €198 billion. A 10% tariff would cost the EU about €53 billion, while a 20% tariff would cost €106 billion. Trump had once threatened to increase tariffs to 50% (€266 billion) if the EU retaliated. Trump signed an executive order on July 7 extending the tariff deadline for most countries and regions, including the EU, to August 1. He warned that US allies such as Japan and South Korea would face a 25% tariff next month if they don't cooperate. The EU said Wednesday it hopes to reach an outline trade deal with the US within days. Read: US uses 'poison pills' to isolate China from supply chains
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First Post
10-07-2025
- Business
- First Post
Wang Yi's Europe tour sets tone for EU-China summit: Trade, Ukraine tensions in focus
Chinese Foreign Minister Wang Yi was in Europe to set the tone for the upcoming EU-China Summit, but the differences are such between the two sides that the summit could become meaningless and get condensed to a one-day affair. read more On July 2, 2025 local time, President of the European Commission Ursula von der Leyen met with Member of the Political Bureau of the CPC Central Committee and Foreign Minister Wang Yi in Brussels. (Photo: Ministry of Foreign Affairs, China) Chinese Foreign Minister Wang Yi was in Europe this week to lay the groundwork for the upcoming EU-China Summit, but the harsh realities that he saw could not just make the summit meaningless but see it condensed to a one-day affair. Even as China has pitched itself as a counterweight to the United States in terms of trade and international dealings, the reality is not lost on anyone in Europe that China has a massive trade surplus with the European Union (EU) and China is Russia's ally in the war on Ukraine and aggression against Europe. STORY CONTINUES BELOW THIS AD The Russian invasion of Ukraine and the shadow war on the continent has plunged Europe in the worst security crisis since the World War II. Russia is able to sustain its war and the broader economy because of Chinese economic assistance. China is not just buying Russian energy exports but is also providing Russia everything from weapons, dual-use goods, machinery, and weapons supplies to consumer goods. If that was not enough of a proof that China was on the other side of the Europe-Russia conflict, Wang told EU foreign minister Kaja Kallas last week that China did not want to see Russia lose in the war with Ukraine, according to South China Morning Post. Wang meets European leaders but tensions remain In his tour of Europe, Wang met EU chief Ursula von der Leyen, Kallas, and ministers in France and Germany, and even as he pitched China as a credible partner, little was achieved to ease longstanding tensions between the two sides. Wang stressed before his European counterparts that China and Europe do not have any fundamental conflicts of interest, but instead share extensive common economic and political interests, according to Business Times. French newspaper Le Monde reported that Wang made 'no progress on a host of disputes'. The newspaper dubbed the warming of EU-China relations as 'impossible' as the two sides spar over trade imbalance, Ukraine war, cybersecurity, and the West Asia conflict. The situation is such that the two-day EU-China Summit starting July 24 could be reduced to one day. Last year, the EU slapped tariffs of up to 35 per cent on Chinese electric vehicles (EVs) and China retaliated with inquiries into Europe's pork, dairy, and brandy sectors. The EU is also looking forward to securing an arrangement for the supply of rare earths. STORY CONTINUES BELOW THIS AD Despite such a conflict, China would try to use its rare earths' monopoly as a trump card just like it used it in the trade conflict with the United States. China controls around 70 per cent of rare earths' reserves and around 90 per cent of rare earths' production. Rare earths are used in nearly everything required in modern life, ranging from household electronics to cars and missiles and fighter planes. Moreover, there is no one voice in the EU about China. While some countries are more business-minded, like France, others are more hawkish on
Euronews
07-07-2025
- Business
- Euronews
EU-China tensions escalate over medical device trade restrictions
Beijing announced on Sunday that it will restrict government purchases of medical devices from the EU valued at over 45 million yuan (approximately €5.3 million) as a direct response to the European Commission's decision to limit Chinese firms' access to the bloc's public procurement market. Under the Commission's previous move last month, Chinese companies are barred from bidding on public contracts for medical devices in the EU single market exceeding €5 million. Additionally, winning bids must contain no more than 50% of components sourced from China. In a statement, China said it had 'no choice but to implement countermeasures". A spokesperson for China's ministry of commerce added that Beijing has repeatedly expressed, through bilateral dialogues, its willingness to address differences with the EU through dialogue, consultation, and bilateral procurement arrangements. 'Unfortunately, the EU has ignored China's goodwill and sincerity and continues to impose restrictive measures and build new protectionist barriers,' the statement read. This latest escalation follows Beijing's announcement last week of anti-dumping duties of up to 34.9% on European brandy imports for the next five years. The pattern of reciprocal trade actions continues to define the EU-China economic relationship. In recent weeks, China extended its anti-dumping investigation into EU pork imports by six months, while the EU imposed tariffs of up to 45% on Chinese electric vehicles (EVs). These developments come at a sensitive time in EU-China relations, which are undergoing a cautious diplomatic reset. A key milestone in the evolving dialogue will be the upcoming EU-China Summit, scheduled to take place in Beijing in the second half of July 2025. Concerns from Europe MedTech Europe, the EU's medical devices industry association, expressed regret over China's latest decision, saying it further restricts access to the Chinese public procurement market. 'Measures of this nature risk deepening trade tensions and ultimately deny patients timely access to indispensable medical technologies,' the group said in a statement. 'We urge both the European Union and China to engage in constructive dialogue to resolve current challenges to market access and to uphold fair, predictable, and reciprocal trading conditions.' The European Chamber of Commerce in China echoed these concerns, warning that the announcement increases uncertainty for European businesses operating in the country. In particular, the lack of specificity in the new restrictions raises the risk that local authorities managing public tenders may enforce the measures in an overly stringent manner. This could exclude even highly localised European medical device manufacturers from bidding for contracts, according to the Chamber. For instance, although the Chinese government has indicated that European-invested enterprises in China will be exempt from the restrictions, the notice does not clarify what qualifies as a 'European-invested enterprise'. According to the European Chamber, it also remains unclear whether volume-based procurement tenders, which often exceed the threshold, will fall under the new rules.
South China Morning Post
08-04-2025
- Business
- South China Morning Post
As Trump's tariffs upend order, Chinese and EU leaders discuss need for ‘predictability'
Top officials from the European Union and China spoke on Tuesday to discuss ways to inject 'stability and predictability' into the global economy in the wake of the destruction caused by United States tariffs Advertisement European Commission President Ursula von der Leyen spoke with Chinese Premier Li Qiang for the first time since starting her second term in office in December. According to a readout of the call from Brussels the pair agreed to host an EU-China summit in July, although it was not clear whether Chinese President Xi Jinping would attend. 02:48 China vows to take 'countermeasures' after Trump's new 50% tariff threat China vows to take 'countermeasures' after Trump's new 50% tariff threat 'Looking ahead, President von der Leyen noted that the upcoming EU-China Summit in July would be a fitting opportunity to commemorate the 50th anniversary of diplomatic relations,' it read. The EU raised its trade grievances with China, but the tone of the readout suggested the bloc was interested in soothing ailing ties with Beijing, which have deteriorated rapidly in recent years. With both sides feeling the pressure from Trump's policies and nursing struggling economies, many have speculated it would be logical to steady the ship – even if European capitals remain anxious about the impact of China's economic policies. Advertisement 'The president underscored the vital importance of stability and predictability for the global economy. In response to the widespread disruption caused by the US tariffs, President von der Leyen stressed the responsibility of Europe and China, as two of [the] world's largest markets, to support a strong reformed trading system, free, fair and founded on a level playing field,' the EU account said.
