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EU panic as VDL begs China for level playing field – warns of 'very negative consequences'

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The European Union told China on Monday to make good on a promise to open up its economy and warned of “very negative consequences” if Beijing goes ahead with a new security law on Hong Kong that the West says will curtail basic rights. Speaking after video calls with Chinese Premier Li Keqiang and President Xi Jinping, the EU’s chief executive and chairman said they had repeated accusations that Beijing has spread disinformation about the coronavirus.

Speaking at a news conference after a video summit with Chinese leaders, she said: “The relationship between the EU and China is simultaneously one of the most strategically important and one of the most challenging that we have

“We continue to have an unbalanced trade and investment relationship.

“We have not made the progress we aimed for in last year’s summit statement in addressing market access barriers.

“We need to follow up on these commitments urgently and we also need to have more ambition on the Chinese side in order to conclude negotiations on an investment agreement.”

READ MORE: Boris Johnson urged to abandon talks if EU demands UK scraps red line

European Council President Charles Michel said China was not reciprocating the welcome that Chinese companies receive in Europe.

Calling China a partner and a rival, Ms von der Leyen said Beijing had not followed up on a 2019 deal to allow greater access for European companies in China or drop rules requiring investors to share their know-how in Chinese joint ventures.

When asked about Ms von der Leyen’s comments on the 2019 deal on Tuesday, Wang Lutong, the head of the Chinese foreign ministry’s Europe office, said that tangible progress has been made on areas like green financing and government procurement, and that patience was needed.

More to follow…



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