[Explanation] The 7-year Sino-European investment agreement negotiation was announced on December 30, 2020.

Why is the China-EU Investment Agreement so important?

How will the prospects for cooperation and competition between China and the EU change in the future?

Recently, in an exclusive interview with China News Agency, “China Focus”, Joerg Wuttke, chairman of the European Union Chamber of Commerce in China, said that the completion of the China-EU investment agreement negotiations is of symbolic significance and is a "win-win" situation for both China and Europe.

  [Concurrent] Woodk, President of the European Chamber of Commerce in China

  I think that the completion of the China-EU Investment Agreement negotiations is a symbol, indicating that Europe and China can get things done together, and we can reach an agreement that is beneficial to both parties. This is very good.

Second, it does open up more markets for European companies (entering China), which means that it creates more healthy competition within China, which is also good for the Chinese economy, and it also allows Chinese companies to enter the European market. Open the channel. For me, the conclusion of this negotiation is really a "win-win" between China and Europe after long and hard work.

  [Explanation] Since the outbreak of the epidemic in 2020, China's rapid economic recovery has benefited many EU companies.

Woodk introduced that the EU Chamber of Commerce in China has more than 1,700 members, covering 9 cities in China.

The European Union Chamber of Commerce in China conducted a survey in February 2020, when the epidemic situation was the most severe, and asked member companies "whether they are considering leaving China". Only 10% of the respondents considered leaving.

Woodk said that European companies will continue to dig into the Chinese market in the next few years.

  [Concurrent] Woodk, President of the European Chamber of Commerce in China

  The Chinese economy (every year) contributes 30% of global growth, so it is very important for companies to stay here and participate in this market.

So what I think will not change in the next few years is that European companies will continue to dig into the Chinese market. China's manufacturing industry has always been strong, including industries such as automobiles, chemicals, machinery, and construction (walking in the forefront of the world).

However, China is a bit lagging behind in the service industry. I hope that the China-EU Investment Agreement can open up more markets for investment in insurance, local transportation, construction, medical, and banking industries.

  [Explanation] When talking about what to expect for the Chinese market in the future, Woodker said that he estimated that China’s economic growth will continue to account for 30% of global growth in the next 10 years. European companies hope that China will continue to open up and look forward to it. Can participate in China's development opportunities.

  [Concurrent] Woodk, President of the European Chamber of Commerce in China

  China is already a global player, and Europe needs to step out of complacency and try to learn from China.

According to my estimation, China's economic growth will continue to account for 30% of global growth in the next 10 years.

This is equivalent to the total output of OECD (Organization for Economic Cooperation and Development) member countries.

So (European companies) must be here (in China) to participate, which is why we really need China to continue to open up and remain open, so that Europe can participate in China’s development opportunities and become China’s equal partners.

  Reporter Liu Xuanting, Pang Wuji and Wang Chao reporting from Beijing

Editor in charge: [Li Ji]