Latest news with #mutual trust
Al Arabiya
6 days ago
- Business
- Al Arabiya
Xi says China, EU must deepen trust in turbulent world
Chinese President Xi Jinping said China and the European Union must deepen mutual trust amid growing global instability, as he hosted top EU officials for a summit in Beijing on Thursday. Xi emphasized the need to find 'common ground,' even as tensions persist on issues ranging from trade to the war in Ukraine and human rights. China has positioned itself as a more stable and reliable partner than the United States and has sought to draw the EU closer. However, Brussels has voiced concern over China's growing trade surplus, fears that subsidized Chinese goods could swamp European markets, and Beijing's tacit support for Russia in its war against Ukraine. Though the summit marked 50 years of diplomatic ties, the long list of grievances signaled a contentious meeting. 'The more severe and complex the international situation is, the more important it is for China and the EU to strengthen communication, increase mutual trust, and deepen cooperation,' Xi said, addressing European Commission President Ursula von der Leyen and European Council chief Antonio Costa. Von der Leyen said on X that the summit was 'an opportunity to both advance and rebalance our relationship,' expressing confidence in the potential for mutually beneficial cooperation. A senior EU official acknowledged the deep divisions: 'We know that we don't see eye to eye with China on many issues... but we believe that it is essential to have this kind of very direct and open and constructive conversation.' At the top of the EU's agenda is the $360 billion trade deficit with China, which von der Leyen has called 'unsustainable.' Beijing has rejected the concern, urging Europe to 'rebalance its mentality.' Von der Leyen also said Brussels would press China to open its markets further and lift export restrictions on rare earths. The EU has already imposed steep tariffs on Chinese electric vehicles, citing unfair industrial subsidies, while China has launched retaliatory probes into European pork, brandy, and dairy. Another major point of friction is China's close relationship with Moscow. Brussels says Beijing's deepening economic ties with Russia amount to tacit support for its war in Ukraine. The EU recently imposed sanctions on two Chinese banks over dual-use goods—items that can serve both civilian and military purposes—leading to a strong rebuke from Beijing. 'We're not naive,' said the EU official. 'We're not asking China to cut relations, but to step up the customs and financial controls.' Beijing described relations as being at a 'pivotal juncture,' citing rising protectionism and global turbulence. 'The summit serves the interests not only of both parties, but also of the whole world,' said foreign ministry spokesperson Guo Jiakun. While Brussels sought to temper expectations, areas like climate cooperation were seen as offering more room for progress. But analysts were skeptical that any breakthroughs would occur. 'This summit is not going to change the course of Europe–China relations, which is one of deterioration due to structural issues,' said Abigael Vasselier of the MERICS think tank. 'Europe needs to be ready for a long-term struggle and probably needs to rethink its China strategy at this stage.'
South China Morning Post
15-07-2025
- Business
- South China Morning Post
Leaders' meeting sees Australia and China call for increased dialogue and cooperation
China and Australia should foster an accurate understanding of each other and strengthen mutual trust, President Xi Jinping told visiting Prime Minister Anthony Albanese. The top-level meeting in Beijing on July 15, 2025, came as the two major trading partners are moving to deepen economic ties despite heightened geopolitical tensions. For his part, Albanese affirmed Australia's commitment to its largest trading partner, welcoming progress on the free trade deal. Albanese is also scheduled to meet Chinese Premier Li Qiang later in the day, with resources trade, energy transition and security expected to be key discussion points.
