October 10, 2026

From Thursday to Friday, China and the EU held the second meeting of their bilateral trade and investment consultation mechanism in Beijing. The two sides engaged in pragmatic and productive discussions, reaching a 16-point consensus covering trade and investment balances, export controls, intellectual property rights and reform of the World Trade Organization (WTO). Against the backdrop of a sluggish global economic recovery and undercurrents of anti-globalization, this is a pragmatic step to properly handle bilateral differences and a crucial display of responsibility by China and the EU in injecting stability and certainty into the global economy amid turbulent times.

A closer look at this list reveals its core value: anchored in rules-based governance and bridged by mutual trust, it demonstrates the political wisdom to manage differences and steer China-EU economic and trade relations toward greater stability and balance. The first item on the list states that both sides will continue to explore the possibility of reducing tariffs on certain products within the WTO framework. In the hybrid vehicle trade sector, which has attracted significant public attention, the two sides agreed to reach a mutual understanding in a manner consistent with WTO rules, providing a pathway to ease the previously deadlocked trade dispute.

In the field of export controls, China expressed its willingness to continue facilitating export license approvals for rare earths and permanent magnets bound for the EU through a "green channel" mechanism. The two sides also included "advance notifications before items are added to control lists" in the consensus list. This arrangement improves the transparency in listing and delisting procedures, helping to reduce misjudgments and stabilize expectations. This list covers a significant portion of the current challenges and bottlenecks in economic and trade relations between China and the EU, and the consensus reached by both sides demonstrates that no matter how complex trade frictions may be, pragmatic solutions can always be found as long as both sides uphold the spirit of dialogue and adhere to equal-footed consultation.

Read more:

https://www.globaltimes.cn/page/202610/1371933.shtml