Solutions- and interests-based approaches are a new element in EU-China diplomatic relations, said the EU ambassador to China on Friday in Beijing. [Special coverage]
The latest trip by Chinese Premier Li Keqiang to Brussels confirmed the commitment from both sides to the "One Belt, One Road" initiative and the European strategic investment plan, which aims to support the EU's economic revival.
In terms of financial cooperation, the two sides agreed to establish a China-EU investment platform in order to seek cooperation with the European Fund for Strategic Investment, a plan to support investment in transport infrastructure in Europe. To further liberalize trade and investment, Li said China and the EU should further promote the Bilateral Investment Treaty.
Ambassador Hans Dietmar Schweisgut told a news conference there will be more competition and trade friction between the two sides when they finalize the treaty.
He pointed out there is a lot of potential space to upgrade bilateral economic relations, as European investment in China is only about one tenth of European investment in the US.
He also said the 17th EU-China Summit "was one where leaders felt comfortable talking in detail with each other and talking about solutions."
The ambassador also noted it's "unlikely" that top -leaders from EU institutions will attend the military parade in September in Beijing to commemorate the end of World War II.
