In a bid to counter the United States’ growing stance on protectionism, China and the European Union team up and plan an early summit in Brussels. (Photo : Google)
China and the European Union (EU) should strengthen mutual cooperation and investment, such as by connecting the "One Belt, One Road" initiative with EU's Investment Plan for Europe, according to the statements of a Chinese government official and an EU leader at a meeting on Monday in Beijing.
The statements were made at the 5th China-EU High-Level Economic and Trade Dialogue, co-hosted by Ma Kai, vice premier of China's State Council, and Jyrki Katainen, vice president of the European Commission.
The dialogue is meant to strengthen China-EU economic cooperation and solve major trade obstacles, said Ma at the meeting.
According to Katainen, China has been an important source of investment for Europe. He also added that the EU hopes to find "common ground" with China over the "One Belt, One Road" initiative and the Investment Plan for Europe in order to make the mutual investment "more effective."
Ma agreed with Katainen's views, stating that the two investment projects could enhance mutual economic cooperation if they were "connected."
Chinese Premier Li Keqiang noted at a meeting on June 29 that China encourages domestic companies to participate in Europe's infrastructure projects.
The economies under the EU are also welcomed by China to participate in the construction involved in the "One Belt, One Road" initiative, according to a June 30 report by news portal people.com.cn.
The "One Belt, One Road" initiative is a trade and investment promotion scheme intended to deepen economic connections between China and the rest of the world, which was initiated by Chinese President Xi Jinping in 2013.
The Investment Plan for Europe is a 315-billion-euro ($352.18 billion) project from 2015 to 2017 to boost jobs and economic growth in Europe. It was launched by the European Commission on Nov. 26, 2014.
