Illustration: Xia Qing/GT

Despite the current challenges and opportunities facing China-Europe economic and trade relations, the recent roundtable meeting convened by the Chinese Ministry of Commerce (MOFCOM) still conveyed a strong and positive signal, demonstrating China's steadfast and pragmatic attitude toward deepening economic and trade cooperation with Europe. Both sides need to open wider to further expand the areas of opening up to each other, consolidate the existing cooperation mechanism, and on this basis, explore and cultivate new growth points for cooperation.

The MOFCOM will continue to provide a good service guarantee for foreign enterprises, including European enterprises, to invest and operate in China, Ling Ji, a vice minister of the MOFCOM, said on Tuesday when chairing a roundtable for European enterprises, soliciting questions and suggestions from European companies operating in China. Representatives from the Ministry of Finance, the National Medical Products Administration and other departments also attended the meeting.

The roundtable comes at a time when the market is apprehensive about the tensions arising from the EU's misguided approaches to economic and trade relations with China. Just last week, media reports said that the EU is considering restrictions on Chinese medical device manufacturers in public tenders, following an investigation that claimed that there was "clear evidence of China limiting the access of EU medical devices producers to its government contracts."

Against this backdrop, the latest roundtable meeting apparently reflects China's high regard for and pragmatic approach to its economic and trade relations with Europe. By listening to the voices of European companies in China and understanding their actual needs and challenges, China demonstrates its sincerity in clarifying issues and resolving problems, a positive signal for the future development of economic ties.

However, there is no denying that the development of China-EU economic and trade relations does face some challenges and frictions, while some within the EU have always harbored ideological biases against trade with China. In a speech at the World Economic Forum in Davos on Tuesday, European Commission President Ursula von der Leyen said the bloc "must engage constructively with China - to find solutions in our mutual interest," while still criticizing "Chinese market distortions."

The biased rhetoric of some EU politicians regarding economic and trade relations with China often caters more to political needs rather than the overall economic interests of the EU. This approach tends to create unnecessary concerns, causing European companies to miss opportunities for further expansion in the Chinese market, ultimately harming the EU's own economic interests.

By comparison, China always maintains an open and cooperative attitude, actively promoting collaboration with the EU in areas such as pharmaceuticals, innovation and the green economy, providing a solid foundation for both sides to resolve issues through dialogue.

Indeed, China has been committed to maintaining a positive attitude of open cooperation and policy transparency toward Europe and global partners. China not only welcomes European companies to invest and operate in the Chinese market but is also committed to providing a fairer, more transparent, and predictable business environment for foreign enterprises. China has completely lifted restrictions on foreign investment in the manufacturing sector and has further relaxed market access in the services industry, creating more favorable conditions for foreign companies to enter the Chinese market. For instance, in November 2024, China announced plans to allow the establishment of wholly foreign-owned hospitals in some major cities, in a move to further open up its medical sector.

For European companies, the importance of the Chinese market is self-evident. China boasts a vast market size and substantial consumer potential, along with remarkable vitality and promise in technological innovation and industrial upgrading. For European companies pursuing business growth and globalization strategies, the Chinese market presents immense development opportunities. Therefore, fostering and enhancing China-Europe economic and trade relations is not only crucial for the interests of enterprises on both sides but also plays a vital role in promoting the stable recovery of the global economy.

Given the increasing uncertainty arising from the reshaping of the global economic and trade landscape, it is hoped that the EU could listen attentively to the positive signals from China and meet China halfway with a more pragmatic mindset.