China Offers European Business Deepening Economic Cooperation

China is seeking to expand economic cooperation with European companies and restore trust. Chinese Foreign Minister Wang Yi discussed this during a meeting in Stockholm with Jacob Wallenberg, chairman of investment company Investor AB.

Wang Yi noted that the Wallenberg family was among the first European business groups to make investments in China during the reform period. According to him, this played a significant role in strengthening economic ties between China and Sweden.

Beijing is now seeking to improve relations with Stockholm and restore trust. This is particularly important for the Chinese government given that the country's economic growth has slowed, while geopolitical tensions with the West remain high.

At the meeting, Wang Yi stated that China is ready to strengthen domestic demand, support free trade, and uphold market economy principles. According to him, this will create new opportunities for foreign companies operating in China's market.

Disagreements between China and the European Union remain on issues of trade, electric vehicle exports, and technology exports. However, there have been certain signs of improving relations in recent times. European business groups are calling for better market access from China and more predictable regulations.

The meeting took place ahead of a China-EU leaders' summit. The summit is expected to focus primarily on trade, investment, and economic cooperation.

Source: Investing.com