China’s imports fell 2.3 percent year-on-year in yuan terms last month, official data showed yesterday, in a possible sign of weakening domestic demand in the world’s second-largest economy.
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Juncker also highlighted the importance of jointly dealing with overcapacity in steel production in China and the European Union, noting that they had jointly established a working group to encourage further discussions on the matter.
Juncker said China’s steel exports to the European Union rose 28 per cent in the first quarter while prices fell 31 per cent during the same period.
The Chinese market-economy status will also be included as European companies are now trying their best to enter the Chinese market but several Chinese policies have prevented foreign investors from allowing European companies to enter the market.
The EU-China Summit comes just a few weeks after the European Commission and the High Representative adopted a Joint Communication on elements for a new EU strategy on China, and will enable discussions at the highest level on issues related to bilateral EU-China political and economic relations, addressing global challenges, and regional and worldwide issues.
The EU would “use all means to defend our steel sectors”, he told reporters.
Chinese President Xi Jinping met visiting European Council President Donald Tusk and European Commission President Jean-Claude Juncker on Tuesday.
Li called on the European Union to follow Article 15 of the Accession Protocol of China’s entry into the WTO, which says all WTO members should stop following subrogate country measures in anti-dumping cases against China by Dec 11, 2016.
“China’s will to solve the problem of steel overcapacity is resolute and our measures are effective”, said Mr Li.
Under the so-called “One Belt, One Road” initiative, China aims to create a modern Silk Road Economic Belt and a 21st Century Maritime Silk Road to boost trade and extend its global influence.
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She also said there had been “steps backwards” in regulating nongovernmental organizations and in the field of cybersecurity. He added, however, that the issue is “very difficult” for Brussels, and said that after the impact assessment is completed the EU’s executive arm will then weigh its options. “But for us there is a clear link between the steel overcapacity of China and the market economy status for China”.
