China pledges open economy at EU summit

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China pledges open economy at EU summit
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EU council hails Beijing’s commitment as a ‘breakthrough’ as both sides commit to globalisation within international rules

The meeting comes a month after the European Commission branded Beijing ‘a systemic rival’ and stressed China’s unwillingness to play fair on tradeEU Commission president Jean-Claude Juncker and Chinese premier Li Keqiang at the 21st EU-China Summit on April 9 2019. Picture: GETTY IMAGES/THIERRY MONASSEChina said it will push further to open its economy and deepen ties with the EU, which has grown increasingly wary of Beijing’s influence in Europe.

It also lands amid big questions over Huawei, the Chinese tech giant that Washington wants the EU to ban due to the firm’s alleged ties to Chinese state security. In Tuesday’s seven-page document that spans security, diplomacy and trade issues, both sides commit to “broader and more facilitated, non-discriminatory market access”, in wording the Europeans saw as a concession from the Chinese on freeing their economy.

“This is a breakthrough. For the first time, China has agreed to engage with Europe on this key WTO reform,” Tusk said after the talks, adding that both sides will discuss progress on the issue at the next summit.The annual meeting comes as Brussels is trying to beef up its approach to the Asian giant on trade matters and security. A major concern is China’s ambitious “Belt and Road Initiative” , a massive network of transport and trade links stretching from Asia to Europe.

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