From Brussels to Balkans, Chinese Premier visits Europe for closer ties

COOPERATION & COMPETITION

Beijing values its comprehensive strategic partnership with Brussels. Fostering a sound relationship with the EU has long been a priority of its foreign policy.

The EU has been China's largest trading partner for 15 years in a row and China has become the EU's second largest trading partner, according to China's Ministry of Commerce.

Official statistics from the ministry show that two-way trade between China and the EU hit a record high of $682.2 billion in 2018, up 10.6 percent year-on-year.

The two sides are also building up consensus and efforts under the framework of the Belt and Road Initiative, achieving fruitful results.

Cooperation between China and the EU is expecting better opportunities, with China's recently-adopted unified foreign investment law, a landmark legislation that will provide stronger protection and a better business environment for overseas investors.

"Despite mounting uncertainties in global trade, trade between China and Europe continues to enjoy good momentum. It shows that cooperation between China and Europe has a solid footing and great potential," said Cui Hongjian, head of the Department for European Studies at the China Institute of International Studies, a Chinese think tank.

In March, the European Commission defined China simultaneously as a cooperation partner and economic competitor and systemic rival and proposes 10 actions for EU heads of state or government to discuss and endorse, according to the commission's press release.

"With the constant deepening of cooperation, there will be competition in areas such as economy and trade, which is quite normal. Moderate and benign market competition helps stimulate each of us to develop better and makes China-EU cooperation more resilient and vibrant," Chinese State Councilor and Foreign Minister Wang Yi said at a joint press conference with EU foreign policy chief Federica Mogherini last month in Brussels.

Admitting competition is "not a bad thing," Zhang said. "Competition and cooperation are two sides of one coin. Competition is not a you-lose-I-win and winner-takes-all game."

Meanwhile, Zhang argued that China and the EU, while adopting different political systems, are not necessarily becoming rivals.

"I think cooperation is the keynote of China-Europe relations. As for competition, the two sides need to work out a better way to deal with it," Cui added.