China and Europe to work for improved bilateral cooperation

China is ready to work with Europe to jointly strive for greater progress in bilateral cooperation in various areas and deliver more benefits to the two peoples, a Chinese Foreign Ministry spokesperson said on Wednesday.

According to reports, German Chancellor Olaf Scholz recently said explicitly that he supports globalization, adding that decoupling is the "wrong answer" and that Germany must do business with the rest of the world, including China. Executive Vice-President of the European Commission Valdis Dombrovskis, who is in charge of economic affairs, also reportedly said he believed that decoupling from China is not an option for companies in the European Union (EU). He added that the EU's trading relationship with China "needs more balance and reciprocity" and that "the EU should continue engaging with China with pragmatism."

"We commend these remarks from the European leaders," Chinese Foreign Ministry spokesperson Mao Ning told a daily news briefing, adding that China also supports globalization and opposes decoupling.

With the world economy in the doldrums, to stay open and engaged in cooperation and grow economic and trade ties is good not only for China and Europe, but also for the world economic recovery, Mao said.

Noting that China and the EU are each other's important economic and trade partners, Mao said that their bilateral cooperation has been mutually beneficial.

Last year, China-EU trade volume exceeded 800 billion U.S. dollars for the first time and two-way investment went beyond 270 billion U.S. dollars in cumulative terms. In the first eight months this year, total trade between China and the EU was 575.22 billion U.S. dollars, up 8.8 percent year on year, Mao said, adding that the EU's investment in China was 7.45 billion U.S. dollars, up 121.5 percent year on year.

"Such trade and investment cooperation has boosted the development of both sides," the spokesperson added.

Noting that China-Europe cooperation is deeply rooted in solid public support, extensive common interests and similar strategic needs, Mao said such cooperation enjoys great resilience and potential.

"China is ready to work with Europe to jointly work for greater progress in bilateral cooperation in various areas and deliver more benefits to the two peoples," she added.