The EU aims to work with China to open its market for more investment from the EU. A common framework of norms and standards is also central to a prospering economic relationship, for example with regard to intellectual property rights or food and consumer product safety.
Why is China important to the EU?
Trade. The EU is China’s largest trading partner, and in 2020, China overtook the US in becoming the EU’s largest trade partner. Most of this trade is in industrial and manufactured goods. Between 2009 and 2010 alone EU exports to China increased by 38% and China’s exports to the EU increased by 31%.
Is EU dependent on China?
China is a key market for the EU but economic dependence remains limited. For many European companies, the Chinese market has been the major growth driver over the past decades.
Does the EU trade with China?
The European Union and China are two of the biggest traders in the world. China is now the EU’s second-biggest trading partner behind the United States and the EU is China’s biggest trading partner. The EU is committed to open trading relations with China.
What does Europe import from China?
In 2020, EU imports of manufactured goods (98 %) also had a higher share than primary goods (2 %). The most imported manufactured goods were machinery & vehicles (54 %), followed by other manufactured products (38 %) and chemicals (6 %). Figure 7: EU trade with China by product group, 2010 and 2020 (EUR billion)
Who is China’s biggest trade partner?
Mainland China’s 100 major trade partners account for $2.551 trillion or 98.5% of all exported goods consumed by trade partners that import from the People’s Republic.
Searchable Datalist of Countries Consuming China’s Exports.
|Exports from China (US$)||$452,576,771,000|
Are China and Germany allies?
Germany is China’s biggest trading partner and technology exporter in Europe. China is Germany’s largest trading partner, superseding the United States since 2017.
Is China in the UN?
China is one of the charter members of the United Nations and is one of five permanent members of its Security Council. One of the victorious Allies of the Second World War (locally known as the Second Sino-Japanese War), the Republic of China (ROC) joined the UN upon its founding in 1945.
Does the EU have a free trade deal with China?
The European Union has concluded free trade agreements (FTAs) and other agreements with a trade component with many countries worldwide and is negotiating with many others.
Negotiating new agreements.
|State||New agreement being negotiated||Status|
|China||EU-China investment agreement||Negotiations launched in 2013|
Is China a developed country?
China was the richest developing country on Earth in 2019, with a total GDP of $14,279.94 billion.
Who is China’s biggest customer?
List of largest trading partners of China
|Rank||Country / Territory||Total trade|
Who is us biggest trade partner?
List of the largest trading partners of the United States