EU/China Joint Committee: joint press briefing by Karel De Gucht and Chen Deming, Chinese Minister for Trade
On 31 May 2012, following their third EU-China Joint Committee, Karel De Gucht, Member of the EC in charge of Trade, and Chen Deming, Chinese Minister for Trade, held a press point. They focussed on negotiations over direct investments in China and Europe. They raised the necessity to establish a legal framework for business between both sides.
Chen Deming explained China is really interested in European high technology and pledges to buy more form Europe to make the trade more balanced. EU-China trade has increased dramatically in recent years. China is now the EU's 2nd trading partner behind the USA and the EU's biggest source of imports by far. The EU is also China's biggest trading partner.