A: On June 29, Minister Wang Wentao and Commissioner Šefčovič co-chaired the first meeting of the TIC at EU headquarters. They had comprehensive, in-depth, and constructive discussions on major issues concerning China-EU economic and trade relations. The two sides issued a joint statement after the meeting, agreeing to establish four workstreams under the TIC, namely trade and investment balancing, export controls, IPR, and WTO reform. These workstreams cover not only bilateral economic and trade issues but also multilateral issues, such as those related to the WTO, demonstrating the common position of China and the EU of firmly upholding the multilateral trading system.

The TIC is a regular communication mechanism newly established by China and the EU in the economic and trade field. The two sides have agreed to hold one to two ministerial meetings each year. China has extended an invitation to Commissioner Šefčovič to visit China this autumn and hold the second regular meeting of the mechanism.

During the first meeting, the two sides focused on three areas to promote trade balance in an upward, rather than a downward, direction: first, regarding emerging sectors, the two sides will work to expand cooperation in areas including AI and green transition; second, regarding areas with potential, the two sides will tap deeply into cooperation potential in areas such as trade in services; third, in areas with problems, the two sides will work through market access consultations to gradually resolve each other’s concerns. China is fully implementing the 15th Five-Year Plan (2026-30) and advancing the building of a strong trading nation, and will actively promote more balanced development of imports and exports. China is ready to use platforms such as “Export to China” and the China International Import Expo to help EU companies explore the Chinese market and expand their exports to China.

Most importantly, the two sides reached consensus on a new positioning for China-EU economic and trade relations, namely a stable and balanced key trading partnership. This will help improve the expectations of businesses on both sides and inject more certainty and positive energy into China-EU and global economic development.