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(Bloomberg) — Chinese President Xi Jinping told European Union leaders that both sides will step up cooperation, comments that come as Brussels pressures Beijing to address its economic frustrations.
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“China and the EU should be partners in mutually beneficial cooperation, constantly enhance political mutual trust” and come to a strategic consensus, Xi said in a meeting in Beijing on Thursday with European Commission President Ursula von der Leyen and European Council President Charles Michel.
Xi also called on Beijing and the bloc to “eliminate all kinds of interference,” according to state-run China Central Television. This is most likely aimed at the United States, which has taken action and included the Netherlands in its efforts to prevent China from obtaining high-end semiconductors.
Von der Leyen called her verbal exchange with Xi “good and frank” in an article on X, the former platform known as Twitter. They discussed “key and demanding situations in a world marked by the development of geopolitical frictions,” he said, adding that they pledged to foster people-to-people exchanges and agreed on a not unusual interest in “balanced industrial relations. “
EU officials are holding their first in-person summit with China in four years. The bloc needs tangible progress on long-standing issues ranging from knowledge flows to market access, according to other people familiar with its plans.
EU officials will also call for more efforts to counter Moscow’s ability to circumvent sanctions, as China has become Russia’s main direction for protecting banned technologies and so-called battlefield goods. But the bloc remains realistic about the results, and no explicit final results are expected. they said.
Read more: EU takes a hard line on China to target the economic realm
“Deep-seated problems” are hampering relations between Beijing and Brussels, Jens Eskelund, president of the European Union Chamber of Commerce in China, told Bloomberg TV. He cited Russia’s war in Ukraine, the industrial deficit and China’s overcapacity exported to Europe.
“This will have to be resolved before things happen between the two sides,” he said, adding that a partnership with China will have to create “equivalent or nearly equivalent value” for both sides.
The EU fears that Beijing’s faltering economic recovery, coupled with weak domestic demand, will push China to export even more, threatening critical industries in Europe and their workers. The EU’s industrial deficit with China reached more than $400 billion last year and the bloc is keen to continue its strategy that sees Beijing as a partner, competitor and rival.
(Updates with EU von der Leyen).
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