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China and the European Commission are in the final stage before completing the negotiations on the China-EU Investment Agreement. Germany has sent a 126-page draft of the China-EU Investment Agreement to member states for distribution. Except for the wording issue, the draft is basically finished. Xi Jinping told Macron: “Under the new situation, the global and strategic nature of China-EU cooperation has become more prominent.” If the China-EU Investment Agreement is finally signed, it will show that European and American companies are still competing fiercely to enter the lucrative Chinese market. Incoming US government officials hinted that President-elect Biden was dissatisfied with the China-EU Investment Agreement. The German Economic Weekly reported that negotiations between the EU and China on the China-EU investment deal have stalled in the final stage. A spokesman for the Chinese Foreign Ministry said the negotiations are proceeding smoothly.
China and the European Commission are in the final stages of finalizing negotiations on the EU-China Investment Agreement, which will make it easier for EU and Chinese companies to invest in each other’s economies and put most of the EU companies on equal footing in China. German and EU officials believe this will give European companies more access to the market in China.
However, the German Economic Weekly reported on December 23 that negotiations between the EU and China on the China-EU investment deal stalled in the final stage because China established additional requirements for nuclear power.
On the second day, Chinese Foreign Ministry spokesman Wang Wenbin said that to his knowledge, the negotiations on the China-EU Investment Agreement are progressing smoothly. The alleged news that China has proposed to invest in EU nuclear power plants, which caused a stalemate in the China-EU investment agreement negotiations, is fake news. Wang Wenbin said on Tuesday that the China-Europe agreement “will inject more stability into the world.”
The New York Times quoted Fang Xianya of the Russia-Europe-Asia Research Center as saying that the European Parliament created discord between the committee and parliament, as well as between Europe and the United States, in order to deliberately undermine the investment deal, but China will still win. She said: China has won anyway.
The New York Times said that the China-EU Investment Agreement has been promoted by German Chancellor Merkel and other leaders, and that they will strive to reach an agreement before the end of this year. The deal has been in the works for nearly seven years and remains a priority for Merkel because it will allow companies like Daimler and Volkswagen to better control their business in China.
China is eager to reach an investment deal between China and the EU before the Biden administration takes office. It has changed its long-standing cautious attitude to allow foreign companies to gain greater access to the Chinese market. This is because Beijing is concerned that Biden and Europe will form a united front on policies and actions against China. Although Biden has not specifically clarified the content of the united front’s partnership with Europe, recent publicly posted insights on relations with China by members of the Biden team remind everyone that the Biden administration can focus on getting the Chinese government make more commitments in the future. , Including issues such as the enforcement of intellectual property laws, state-owned companies and differential treatment of foreign companies in China.
Chinese President Xi Jinping hopes to promote the China-EU trade agreement. For this reason, he discussed the China-EU trade deal with Merkel and French President Macron. Xi Jinping told Macron: “Under the new situation, the global and strategic nature of China-EU cooperation has become more prominent.”
Fang Xianya, director of the Russia-Europe-Asia Research Center in Brussels, said China is willing to weaken any transatlantic alliance by promoting a China-Europe investment deal.
The current spokesman for the Trump administration’s National Security Council, Yuliott, warned that “if there is no robust compliance and verification mechanism,” any promise made by China is “just a propaganda victory” for the Communist Party of China.
The EU-China Investment Agreement may complicate transatlantic relations between Europe and the administration of incoming US President-elect Biden.
In Washington, an incoming US government official hinted that President-elect Biden was not satisfied with the China-EU Investment Agreement. Sullivan, the Biden team-appointed national security adviser, said on Twitter earlier this week that the Biden and Harris governments welcome early consultations with European partners on common concerns about China’s economic behavior.
Although Europe’s short-term trade deal with China will not rule out other partnerships between Europe and the United States, it will weaken some of Biden’s statements and show that European and American companies are still fiercely competing for access to the lucrative Chinese market.
Germany is currently the rotating presidency of the European Council for a period of six months. Last week, they sent a 126-page draft of the China-EU Investment Agreement to all member states for distribution. Except for the wording issue that was resolved, the draft is basically complete.
