China says EU ‘mentality', not trade, needs to be rebalanced
BEIJING : Beijing said today that the EU needed to rebalance its 'mentality', not its economic ties with China, ahead of a summit between the two this month.
'It is hoped that the European side realises that what needs to be rebalanced right now is Europe's mentality, not China-EU economic and trade relations,' foreign ministry spokeswoman Mao Ning said.
European Commission president Ursula von der Leyen said yesterday the EU would seek to rebalance economic ties with China, demanding it ease market access for European firms and loosen export controls on rare earths.
Addressing the European Parliament in Strasbourg, von der Leyen said Beijing was running the largest trade surplus 'in the history of mankind' exporting vast amounts to the EU while making it harder for European companies to do business in China.
The trade deficit between China and the EU was a yawning US$357 billion in 2024.
The commission leader, who will travel to Beijing with European Council president Antonio Costa, said the pair will seek to loosen export restrictions on rare earths, while Brussels also looks at 'developing alternative supply resources'.
Beijing snapped back today, saying that in the 'current turbulent situation', the bloc and China should 'properly handle divergences and frictions'.
'We hope that the EU will truly establish a more objective and rational understanding of China and pursue a more positive and pragmatic China policy,' Mao said.
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