The 7th Annual China-EU High-level Economic and Trade Dialogue was held in Beijing earlier today. Co-chaired by Chinese Vice Premier Liu He and European Commission Vice President Jyrki Katainen, the dialogue generated a wide breadth of consensus. Our reporter Zou Yun shows us how it may pave the way for a greater economic and trade agenda of the upcoming China EU summit.

In-depth, pragmatic and productive. That's how Vice Premier Liu He described the outcome of the China-EU High Level Economic and Trade Dialogue. Liu says China and the European Union have made progress on bilateral investment agreements, trying to fix a timeline for the final conclusion of the negotiations. Held at a time when unilateralism and protectionism are both on the rise, Liu says China and the EU will work together, to prevent such practices from dragging the world economy into recession.

LIU HE CHINESE VICE PREMIER "The two sides are committed to defending the multilateral trading system, which is centered on the WTO and based on rules. To promote economic globalization that's more open, inclusive, balanced and beneficial to all, China believes this will align well with the roadmap and timetable of China's reform and opening-up drive."

E.U. Commission Vice president Jyrki Katainen said the EU and China represent about a third of all global GDP. Given this, both sides can only benefit from working together closely. It's important for both sides to talk not only on the topics of shared interests, but also issues that they disagree on. He believes the dialogue will pave the way for the economic and trade agenda of the upcoming China EU summit.

JYRKI KATAINEN VICE PRESIDENT, EU COMMISSION "We must also show that our relationship delivers tangible economic benefits for both sides. I'm particularly pleased that our investment negotiations have now reached the stage where we are ready to exchange market access offers at the EU-China Summit."

Both China and the EU have also agreed to continue connecting the Belt and Road Initiative to Europe's development strategies, and enhance cooperation in areas such as digital economy, E-Commerce, Circular economy, and white pollution prevention.

ZOU YUN BEIJING "Since it's inception in 2007, the dialogue is the highest level talk on economic and trade matters between China and the EU. It has played a key role in enhancing bilateral economic ties, and is expected to bring these relations to a new high. Zou Yun, CGTN, BJ."