China urges EU to stay committed to oppose protectionism

TOKYO, China on Tuesday urged the European Union (EU) to honor its commitment to upholding free trade and opposing protectionism, and work with China to maintain the overall interest of China-EU economic and trade cooperation, state-run Xinhua News Agency reported. Foreign Ministry Spokeswoman Mao Ning made the comment at a news briefing in Beijing when responding to remarks of Josep Borrell, the EU's High Representative for Foreign Affairs and Security Policy, that "decoupling" from China is very difficult. Borrell expressed the hope in a recent interview for continuing mutually beneficial trade with China that is both fair and balanced, according to Xinhua. Borrell also said that the EU will not follow the US in imposing tariffs on China, and that a trade war must be avoided. "The China-EU economic and trade relations are mutually beneficial and win-win in nature," said Mao, adding that protectionism only leads to a dead end while openness and cooperation are the correct ways. She noted that China and the EU are each other's second largest trading partners, with an average trade value of nearly USD 1.5 million per minute. In addition, the total value of two-way investment has exceeded USD 250 billion, and companies from both sides continue to increase investment in each other's markets, according to Mao. "China will continue to promote high-level opening up and provide an open, inclusive and transparent business environment for enterprises from all countries," Mao added. Source: Kuwait News Agency