In the year 2020, China-EU economic and trade cooperation has deepened.In the first 11 months of last year, the 27 EU countries' actual investment in China reached US $117.98 billion, and China's cumulative direct investment in the 27 EU countries exceeded US $80 billion. In particular, the conclusion of the China-EU Investment Agreement has further upgraded China-EU economic and trade relations.Under the current circumstances, China-EU economic and trade cooperation has given a strong boost to the economic and social development of both sides and will give a strong boost to the recovery of the world economy in the post-epidemic era.
The European Union Chamber of Commerce in China recently told China Trade News that the conclusion of the China-EU Investment Agreement, which has attracted much attention, will undoubtedly further deepen the bilateral economic and trade relations and unleash the potential of each other's economic development.The European Chamber of Commerce in China believes that mutually beneficial cooperation is of vital importance to both sides. Both sides should further open up and create a more level playing field in the future so as to bring tangible benefits to each other's businesses.
The EU is China's largest trading partner and China is the EU's second largest trading partner. There is huge potential for trade and investment cooperation between the two sides and there is still much room for further development.The European Chamber of Commerce in China Business Confidence Survey 2020, released by the European Chamber of Commerce in China and Roland Berger Consulting, shows that the Chinese market is a strong attraction for most EU companies in China, with more than 60 percent of respondents saying that China is still one of their top three investment destinations.
In response, the European Chamber of Commerce in China believes that the growing domestic demand, the improvement of the innovation environment and the vibrant industrial ecosystem in China have made EU companies more committed to the Chinese market.
During the epidemic, the European Chamber of Commerce in China witnessed the mutual cooperation between China and Europe in fighting the epidemic, and they believe that this should continue to be reflected in future bilateral economic and trade cooperation.Relevant data show that in 2020, China-Europe freight trains made 12,400 journeys and transported 1.35 million TEU, up 50% and 56% respectively year-on-year, with a comprehensive heavy container rate of 98.4%, among which 9.31 million pieces of epidemic prevention materials and 76,000 tons were delivered.This has given a strong boost to China's anti-epidemic cooperation with other countries and regions along the Belt and Road, and played an important role in stabilizing the global industrial chain and supply chain.
At the same time, the European Chamber of Commerce in China noted that in recent years, with China's economic growth slowing down and the changing international political and economic situation, the development of European and European companies in China has also encountered new difficulties and challenges.Hit by the epidemic and trade frictions, nearly 30 percent of enterprises expect their research and development and business will be negatively affected, and there will be a decline in revenue, and 14 percent of enterprises said they will have to cut costs through layoffs to make up for business losses.
The EU Chamber looks forward to a better understanding of the significance of the new development pattern to the development of foreign enterprises in China, which was proposed by China last year to accelerate the construction of a new development pattern featuring domestic circulation as the main body and mutually reinforcing domestic and international cycles.The European Union chamber of commerce in China that, overall, binary better than simple domestic circulation or international circulation, for foreign companies, international circulation is more important, especially under the background of the sino-us trade friction, close contact with European enterprises can make China better balance its position in the international market.
The EU Chamber hopes that China will further open up its domestic market, tap the potential of local consumption and reduce its dependence on exports in the context of accelerating the construction of a new pattern of double-cycle development.In September last year, the European Chamber of Commerce in China released the EU Business Proposal in China 2020/2021, which gives a detailed analysis of how long-standing problems in China's business environment affect the sustainable development of European and European companies in China.
The European Chamber of Commerce in China believes that giving full play to the huge market potential will not only promote China's sustained economic growth, but also effectively avoid some of the problems that constrain China's economic development, such as the growth of debt and the acceleration of aging population.Especially at present, with the spread of the Covid-19 epidemic and the threat of economic "decoupling", it is critical for China to carry out meaningful new practices of reform and opening up.