BEIJING: China and the European Union have a sturdy “symbiotic” financial relationship and Beijing hopes the bloc can change into “a reliable companion for cooperation”, President Xi Jinping advised European Council President Antonio Costa on Tuesday (Jan 14).
So long as China and Europe respect one another, deal with one another as equals and interact in honest dialogue, they will “advance cooperation and obtain nice issues”, Xi was reported by state broadcaster CCTV as saying in a telephone name with Costa.
Xi’s remarks come because the world’s second-largest financial system gears up for impending US tariff hikes on Chinese products after the swearing in of Donald Trump as the subsequent US president on Jan 20.
China and Europe ought to strengthen strategic communication and improve mutual belief because the worldwide state of affairs turns into extra extreme and sophisticated, Xi stated.
Financial and commerce cooperation between the 2 sides is complementary and mutually useful, and they need to create new factors for increasing cooperation, Xi stated.
Tensions stay heightened between China and the EU over the latter’s tariffs on Chinese electric vehicles, whereas China and the US have been buying and selling barbs and tit-for-tat measures to restrict the exports of tech and significant supplies to one another.
The Biden Administration stated earlier this week that it could further restrict artificial intelligence chip and technology exports, sustaining a block on exports to international locations together with China.
China’s commerce ministry and semiconductor business affiliation have criticised the brand new US laws, with the affiliation on Tuesday calling on the worldwide tech business to withstand the Biden Administration’s “technological hegemony”.
