China News Agency, Brussels, December 30 (Reporter De Yongjian) On December 30, the leaders of China and the EU jointly announced the completion of the China-EU investment agreement negotiations as scheduled. Zhang Ming, the head of the Chinese mission to the EU, pointed out in a joint interview with Chinese media in Europe: The China-EU Investment Agreement will further eliminate the two-way investment barriers between China and Europe and create an investment cycle that spans the east and west ends of Eurasia.

　　Zhang Ming said that the China-EU Investment Agreement lasted for 7 years and after 35 rounds of negotiations, it finally concluded within this year as scheduled, and reached a comprehensive, balanced and high-level investment agreement.

For Chinese and European investors, the benefits of the agreement are tangible.

　　For example, in terms of market access, for the first time, China has made a promise in the form of a negative list for all industries, including the service industry, and the EU has also made a high-level market access commitment.

The two sides also decided not to impose restrictions on executives and local R&D in most industries, and to create a comprehensive legal business environment.

　　Zhang Ming pointed out that the current EU investment in China only accounts for about 5% of China's foreign investment absorption, and China's investment in Europe only accounts for 3.4% of the EU's total foreign investment absorption. These data do not match the willingness of both parties to cooperate and the size of the economy.

Under the escort of the China-EU Investment Agreement, it is believed that investors from both sides will further tap their potential and open up more opportunities in each other's markets.

　　"The China-EU Investment Agreement targets high-level international economic and trade rules and focuses on institutional openness. The agreement covers areas far beyond traditional bilateral investment agreements. The negotiation results cover four aspects: market access commitments, fair competition rules, sustainable development, and dispute settlement. The content will further eliminate the two-way investment barriers between China and Europe and create an investment cycle that spans the east and west ends of Eurasia." Zhang Ming said.

　　In response to some voices in Europe that the China-EU investment agreement was reached three weeks before the new US government is about to take office, "it is not conducive to the formation of a unified position on China by Europe and the United States, and the agreement is undoubtedly China's victory." Zhang Ming said that as early as During the 21st China-EU Leaders' Meeting in April 2019, the leaders of both sides decided to complete the China-EU Investment Agreement negotiations in 2020.

Since the beginning of this year, the leaders of the two sides have repeatedly reiterated that they will reach an agreement during the year. Therefore, the completion time of the China-EU investment agreement negotiations is determined by the negotiation process and has nothing to do with external factors.

　　Zhang Ming emphasized that as the world's two major forces, two major markets, and two major civilizations, China-EU relations have independent value and should not be subordinate to any major power relations. China and Europe are comprehensive strategic partners. It is reasonable to reach an investment agreement, and it is also the intention of independence. Under the gloom of the new crown epidemic, the two sides have overcome numerous difficulties and reached an agreement, demonstrating the powerful charm of free trade and mutually beneficial cooperation. (Finish)