BEIJING (Reuters) – China and the European Union have a solid “symbiotic” economic relationship and Beijing hopes the bloc can become “a reliable partner for cooperation”, President Xi Jinping told European Council President Antonio Costa, this Tuesday.
As long as China and Europe respect each other, treat each other as equals and engage in sincere dialogue, they can “advance cooperation and achieve great things,” Xi said in a phone call with Costa, according to state broadcaster CCTV.
Xi’s remarks come as the world’s second-largest economy prepares for imminent US tariff hikes on Chinese goods following Donald Trump’s inauguration as the next US president on January 20.
China and Europe should strengthen strategic communication and enhance mutual trust as the international situation becomes more serious and complex, Xi said.
Economic and trade cooperation between the two sides is complementary and mutually beneficial, and they should create new points to expand cooperation, Xi said.
Tensions remain high between China and the EU over the latter’s tariffs on Chinese electric vehicles, while China and the US have traded barbs and retaliatory measures to limit each other’s exports of critical technology and materials.
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The Biden administration said this week it will further restrict exports of chips and artificial intelligence technology, while maintaining a block on exports to countries including China.
China’s Ministry of Commerce and the semiconductor industry association have criticized the new US regulations, with the association on Tuesday calling on the global technology sector to resist the Biden administration’s “technology hegemony.”
