The relationship between China and the European Union is at a critical juncture, according to European Commission President Ursula von der Leyen. Addressing the EU-China summit in Beijing on Thursday, she highlighted the significant trade volume between the two entities. The EU currently stands as China’s largest trading partner based on volume, while China ranks as the EU’s third-largest.
Von der Leyen noted the considerable scale of the trade relationship, stating that bilateral merchandise trade now exceeds two billion euros daily. She reaffirmed the EU’s commitment to supporting China’s economic development over decades, emphasizing that this support continues.
However, the Commission President acknowledged a growing imbalance within this partnership. “As our cooperation deepens, the imbalances have also increased. We have reached a turning point” she declared. A recalibration of the bilateral relationship is now considered essential, primarily to ensure mutual benefit and long-term sustainability. To achieve this, Von der Leyen stressed the importance of both China and Europe recognizing each other’s concerns and presenting concrete solutions.