WAM
08 Jul 2025, 19:23 GMT+10
BRUSSELS, 8th July, 2025 (WAM) -- Ursula von der Leyen, President of the European Commission, has announced that the European Union aims to rebalance its economic relationship with China by demanding fair and reciprocal access for European companies to the Chinese market.
Speaking before the European Parliament, von der Leyen stated that the issue of Chinese industrial overcapacity, which she said is state-subsidised, will top the agenda during an upcoming summit this month with Chinese President Xi Jinping.
She highlighted that the EU's trade deficit with Beijing reached US$357 billion in 2024, warning that China's industrial surplus cannot simply be offloaded onto global markets at the expense of European businesses.
Von der Leyen said, "If our partnership is to move forward, we need genuine rebalancing and reduced market distortions."
She added that the talks would also address calls for China to ease export restrictions on rare earth materials, in addition to discussions surrounding the ongoing Russia-Ukraine crisis.
Get a daily dose of Moscow Inquirer news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Moscow Inquirer.
More InformationHONG KONG: China has fired back at the European Union in an escalating trade dispute by imposing new restrictions on medical device...
PARIS, France: A strike by French air traffic controllers demanding improved working conditions caused significant disruptions during...
ROME, Italy: Quick thinking by emergency responders helped prevent greater devastation after a gas station explosion in southeastern...
WASHINGTON, D.C.: President Donald Trump is drawing praise from his core supporters after halting key arms shipments to Ukraine, a...
DUBLIN, Ireland: The High Court has heard that some parents of children with special needs may be forced to give up their jobs to care...
LONDON, U.K.: An unrelenting heatwave sweeping across Europe has pushed early summer temperatures to historic highs, triggering deadly...
CULVER CITY, California: TikTok is preparing to roll out a separate version of its app for U.S. users, as efforts to secure a sale...
WASHINGTON, D.C.: President Donald Trump claimed he was unaware that the term shylock is regarded as antisemitic when he used it in...
PARIS, France: A strike by French air traffic controllers demanding improved working conditions caused significant disruptions during...
OMAHA, Nebraska: With Congress considering cuts totaling around US$1 trillion to Medicaid over the next decade, concerns are rising...
ROME, Italy: Quick thinking by emergency responders helped prevent greater devastation after a gas station explosion in southeastern...
WASHINGTON, D.C.: President Donald Trump is drawing praise from his core supporters after halting key arms shipments to Ukraine, a...