China vows to deepen economic cooperation with Belgium

Chinese Commerce Minister Wang Wentao vowed to promote healthy and stable development of China-Belgium and China-EU cooperation, and urged the EU to relax trade restrictions on high-tech products.

China is willing to expand cooperation with Europe in digital and innovative sectors, and hopes Europe can relax export restrictions on high-tech products, Wang said on Friday during a roundtable for Belgian enterprises amid the Belgian Prime Minister’s visit to China.

Prime Minister of Belgium Alexander De Croo paid an official visit to China on Thursday and Friday last week, marking the first visit to China by a Belgian prime minister since 2016.

The China-Belgium and China-Europe trade structure is a reflection of multiple factors, such as the overall industrial structure, market demand and international trading conditions of the two sides.

China has never pursued a trade surplus and has expanded imports from Belgium and Europe through initiatives such as the China International Import Expo, said Wang.

Wang said that the alleged accusations of “overcapacity” related to China’s new-energy sector by Europe were groundless as China’s new-energy vehicle industry is making a positive contribution to the global green transition.

China firmly opposes the EU’s countervailing probe into China-made electric cars, and noted that excessive government intervention in enterprises’ business will bring uncertainties and risks, Wang noted.

China will actively implement the consensus reached by the leaders of the two countries, and promote cooperation between small and medium-sized enterprises in China and Belgium, said Wang.

The roundtable was the first discussion meeting hosted by China’s Ministry of Commerce (MOFCOM) under the foreign enterprise roundtable mechanism, which indicates China’s close attention to the economic and trade relationship with Europe, said Wang.

Representatives from over 20 Belgian enterprises appreciated China’s response to their feedback on investment and cooperation in sectors such as agricultural products, biomedicine and logistics, and are willing to further facilitate China-Belgium and China-Europe economic trade development, according to MOFCOM.

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