China is committed to developing dynamic, long-term and stable economic cooperation and trade with the EU and expects the latter to become China's largest trading and investment partner.
-- Give play to the mechanism of the economic and trade joint committee and step up economic and trade regulatory policy dialogue; give attention to updating the Trade and Economic Cooperation Agreement Between China and the European Union at an appropriate time; properly address irrational restrictions and technical barriers, ease restrictions on high-tech exports and tap the enormous potential of technological cooperation and trade in line with the WTO rules; grant China a full market economy status at an early date, reduce and abolish anti-dumping and other discriminatory policies and practices against China, and apply the Transitional Product-Specific Safeguard Mechanism (TPSSM) prudently; and compensate the Chinese side for its economic and trade losses which may arise due to the EU enlargement. -- Boost China-EU coordination and cooperation in the new round of WTO negotiations and work together for the success of the negotiations.
-- Strengthen dialogue on investment, promote the establishment of bilateral investment-promotion institutions, energetically encourage and guide mutual investments between enterprises of the two sides, and expand cooperation between their small- and medium-sized enterprises; develop processing trade,
contractual projects and labour cooperation of various kinds and encourage transnational business operation and internationalised production.
-- China welcomes more EU development aid, especially in such fields as the environmental protection, poverty-alleviation, public health and hygiene and education. China also welcomes a stronger and more active role of the EU in human resources development, in particular, personnel training for China's central and western regions and build-up of China's capacity of participating in multilateral trading regime.
-- Step up cooperation in the area of quality supervision, inspection and quarantine, establish appropriate consultation mechanisms and, subject to the principle of ensuring safety, security, hygiene, health and environmental protection, promptly address and resolve issues which may adversely affect market access of each other's products.
-- Boost the customs cooperation and conclude a China-EU Customs Agreement in due course.
2. Financial Cooperation
China and the EU should launch a high-level financial dialogue mechanism, expand exchanges between their central banks on policies and deepen cooperation in preventing and managing financial crises and combating the financing of terrorism and money laundering. The Chinese side welcomes an expansion of China-related business by banks of the EU countries and hopes to see an appropriate settlement of the issue of Chinese financial institutions' access to the EU market.
The Chinese side will positively examine and consider applications of EU insurance institutions for business operation in China and improve its supervisory and regulatory regime in line with the Chinese insurance laws, regulations and statutes and China's WTO commitments.
Cooperation in securities legislation, market supervision and regulation, and investment operation will be strengthened and more EU securities institutions, fund management institutions and other institutional investors will be encouraged to enter into China's market. Chinese securities institutions will be encouraged to enter into the EU's securities market when conditions are ripe. In the meantime, Chinese enterprises will be strongly supported to raise funds in the EU's securities market.