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Wang Yi: China Is Confident of Reaching an Investment Agreement Between China and the European Union (EU)

On October 21, 2019 local time, State Councilor and Foreign Minister Wang Yi answered a question on China-European Union (EU) economic and trade relations in an exclusive interview to Agence France-Presse in Paris.

Wang Yi said, China and the EU are each other's important economic partner, and we both hope that economic and trade cooperation will become more standardized and law-based. The Chinese side holds a positive attitude towards the signing of an investment agreement with the EU. China and the EU are in different development stages, and therefore the two sides should reach a mutually beneficial and win-win agreement based on respective situations and needs, instead of trying to impose one's own demands on the other side. China will only open its doors wider and further relax its market access. China is implementing pre-establishment national treatment and a negative list across the country, and the negative list items have been decreasing. All these measures have created favorable conditions for both sides to reach the China-EU investment agreement as soon as possible. For this reason, China is confident of reaching an agreement. The leaders of both sides have reached the consensus during their meeting this year on making decisive progress in the negotiations by the end of the year, in a bid to reach a high-level agreement next year. And this is not only the consensus but also a commitment made by both sides to each other. The Chinese side is speeding up the negotiation process in line with this roadmap. Currently, the negotiations are progressing smoothly on the whole, and are expected to achieve common goals.

Wang Yi said, China is also ready to launch the free trade agreement negotiations with the EU side as soon as possible, at least to start feasibility studies first. The EU side has signed free trade agreements with a number of countries, and should no long ignore China, the largest market for the EU. China's opening-up will not stop. China will offer a better investment environment for foreign enterprises, including those from the EU, and China hopes the EU will do the same. 5G is a product of scientific and technological progress of all humankind and should be shared by all countries. It is hoped that the EU will uphold an objective and fair attitude towards all enterprises, including Chinese companies and 5G companies, and provide a level playing field and non-discriminatory policy for them.

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