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China and the EU share a common development and a common destiny

Foto von Visual People

On Wednesday, Chinese Prime Minister Li Keqiang held telephone conversations with his Spanish and Dutch counterparts Pedro Sanchez and Mark Rutte about bilateral relations, economic and trade cooperation between China and the EU and other topics.

The year 2020 is considered to be a turning point in the process of human history. The outbreak of the epidemic has severely affected the global economy, including the economies of China and European countries. The epidemic situation fluctuated greatly in Europe. And fighting the pandemic is still difficult and not very optimistic. Recently, several European research institutes jointly published a report on the economic outlook, which showed that the euro area economy will contract by 7.3 percent in 2020.

It is praiseworthy that in the context of this global crisis, economic and trade relations between China and the EU have increased against the trend. The data shows that for the first eleven months of this year, China’s exports to the EU amounted to 2.45 trillion yuan, an increase of 7 percent. EU exports to China amounted to 1.6 trillion yuan (about 201 billion euros), an increase of 1.3 percent. At the beginning of November, China-Europe trains carried more than 10,180 trains with 92,7000 containers to 21 European countries, an increase of 54 percent compared to the previous year.

At the beginning of December, Daimler AG announced that it would invest 3.8 billion yuan (around 478 million euros) to produce and sell heavy Mercedes-Benz trucks in China together with Foton from the Beijing Automotive Group. Meanwhile, the Chinese Lenovo Group announced that it has invested more than 20 million euros in Hungary to build its first European factory. In the context of the ongoing pandemic, mutual investment between China and the EU remains active, which corresponds to the rational choice of mutual benefit and win-win situation between both sides. It also reflects the common demand of the two great forces, the two great markets and the two great civilizations across Eurasia to build together a community of the shared future of humanity.

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