The EU and China set an agreement on Wednesday on an investment deal. This will give European companies greater access to Chinese markets.
The agreement has been six years within the making and forms a part of the EU’s new relationship with China. In which the bloc views as a partner, but also as a systemic rival.
Accelerations this year for the negotiations that began in 2014 will conclude with a political sign-off during a web meeting. The web meeting is between Chinese President Xi Jinping and therefore the head of the EU Commission, Ursula von der Leyen, together with European Council chief Charles Michel on Wednesday.
Xi was also thanking for speaking separately with German Chancellor Angela Merkel and French President Emmanuel Macron.
The EU-China agreement, which is probably going to require over a year to enter into force. This will allow EU firms to speculate in new sectors and take away some joint-venture requirements.
China is banning the forced transfer of technology from foreign companies. They have also pledged to be more transparent on subsidies and bar state-owned enterprises from discriminating against foreign investors.
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