China and the European Union (EU) have agreed to maintain stable bilateral economic and trade ties and make them more balanced, while scheduling March 2027 for their next meeting under a trade and investment consultation mechanism, according to a joint statement released on Friday. 

Published by China's Ministry of Commerce, the statement said that Chinese Minister of Commerce Wang Wentao and European Commissioner for Trade and Economic Security Maros Sefcovic jointly chaired the second meeting of the China-EU Trade and Investment Consultation Mechanism from Thursday to Friday in Beijing. 

An official from the European Affairs Department of the Ministry of Commerce interpreted the relevant outcomes:

Trade and investment

China and the EU conducted in-depth discussions on addressing each other's concerns in a reciprocal manner and expanding two-way market access concerning medical devices, cosmetics, pharmaceuticals, inverters, agricultural and food products, so as to advance dynamic balance in China-EU trade.

The two sides held in-depth discussions on trade in electric and hybrid vehicles. The talks helped avert an escalation of frictions, effectively safeguarding the export interests of Chinese companies and the stable development of China-EU trade in hybrid vehicles.

The two sides agreed to leverage the role of the trade monitoring mechanism, continue exploring the possibility of reducing tariffs on certain goods within the framework of WTO rules, and hold a technical dialogue on the EU's Foreign Subsidies Regulation.

Export controls

Since the establishment of the China-EU Export Control Dialogue Mechanism, the two sides have maintained close communication at all levels. Both sides agreed to further leverage the export control dialogue mechanism to strengthen policy communication and safeguard the stability and smooth operation of global industrial and supply chains. They reaffirmed their commitment to addressing each other's concerns in the field of export controls. The EU will continue to make progress in resolving key licensing cases involving China in the dual-use sector.

Intellectual property 

China and the EU have long maintained sound and advancing cooperation on intellectual property rights protection. The two sides agreed to further deepen exchanges and expand cooperation space. China hopes the EU will attach importance to China's concerns and actively promote their resolution. Both sides stressed the need to set phased targets, give full play to the main role of the China-EU Intellectual Property Rights Working Group, deepen cooperation and monitor relevant progress.

WTO reform

Both China and the EU are firm supporters and active contributors to the multilateral trading system. The two sides highlighted the value of the rules-based multilateral trading system, voiced support for WTO reform, and underscored the importance of abiding by WTO rules. They agreed to strengthen communication and cooperation in an open and constructive manner on issues related to WTO reform to advance substantive progress in the reform process.

(With inputs from Xinhua)