It is now a critical moment for the EU and China to consider how to deepen their bilateral economic relationship. A new report from leading European and Chinese policy institutes sets out the opportunities — and challenges — facing the EU and China up to 2025. Here are five key points you need to know.
1. While EU-China trade relations are well developed, this is not yet reflected in other areas of economic activity.
This includes trade in services, levels of foreign investment, cooperation on industrial and technological innovation, and financial market integration. New breakthroughs in innovation also offer scope for closer cooperation as what European and Chinese companies build and design together becomes as important as what they sell to each other. Facilitating people-to-people exchanges will also strengthen relations at a number of levels, and would benefit greatly from targeted, reciprocal, multi-year and multiple-entry visas. There is also particular potential — and need — to do more together on climate change.