EU-China Investment Summit
China and the European Union promoted a new summit on investments that will be held on April 1st, 2022, to promote economic relations between the European Union and China. The EU regards China as a partner in combatting climate change and hopes to have China’s support in reforming the trade rules at the World Trade Organization. The summit has been confirmed by the European Commission Vice-President and EU trade chief Valdis Dombrovskis; China’s Commerce Minister, Wang Wentao, expressed that the two sides could strengthen bilateral cooperation as well as in third party markets for the contribution to the economic development of both sides and recovery of the world economy.
Beijing shows strong signs of economic recovery and stability amid the ongoing pandemic. China’s GDP rose to RMB 114.4 trillion in 2021, an 8.1 percent increase compared to 2020. Global investors expressed strong confidence in China’s economic outlook as foreign direct investment (FDI) in China reached new highs of 1.15 trillion yuan in 2021, which is a 14.9% growth from the previous year. Investments in services and high-tech sectors largely contributed to the FDI growth in 2021. FDI in high-tech industries rose with a 17.1 percent growth from the previous year. Among them, high-tech manufacturing and the service sector rose 10.7% and 19.2%, respectively.
China traded with the European countries in 2021 for a total volume of 1,17 trillion USD with an increase of 29.8% from the previous year and with the European Union for 828 billion USD increased by 27.5%. The top trade partner of China in Europe is Germany with a volume of trade equal to USD 235 (+22.5%) billion total export 115 billion USD (+32.7%) ad total import USD 119 billion (+14.1%).