The President of the European Council, Charles Michel, top right, hosts a leaders’ meeting with Chinese President Xi Jinping via videoconference on Wednesday. The European Union and China announced the political approval of an agreement to open the Chinese market further to EU investors, marking a major step in talks that began in 2013. The breakthrough in negotiations on an EU-China investment deal signals the bloc’s determination to focus on economic opportunities in Asia even amid criticism of Beijing’s record on human rights. “China has committed to an unprecedented level of market access for EU investors, giving European businesses certainty and predictability for their operations.”China and the EU have provided one another with mutually beneficial market access commitments, an official from the Chinese commerce ministry said. For the 27-nation EU, the pact expands access to the Chinese market for foreign investors in industries ranging from cars to telecommunications.

Source: The Standard December 30, 2020 15:56 UTC