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China Finance Minister Meets EU Officials, Pledges Cooperation on Trade and Global Imbalances After Hybrid Car Deal
Read this in the Market Flux appChina's Finance Minister met with the EU Commissioner for Economy, ECB President Christine Lagarde, and the Eurogroup president on October 16, signaling a broader diplomatic push to stabilize economic relations with Europe. The minister said China is willing to fully utilize the China-EU financial dialogue mechanism and engage in discussions on improving global economic governance and macroeconomic policy coordination.
The meetings come days after China and the EU reached an agreement on Chinese hybrid vehicle exports to the bloc, a deal that had been a major source of trade friction. Beijing's statement that differences between China and the EU can be managed through dialogue reflects an effort to use that hybrid car accord as a foundation for wider economic engagement.
On global trade imbalances, China's Finance Minister called on all parties to view the issue in a comprehensive, objective and balanced manner, pushing back against narratives that single out China as the primary source of global economic distortions. Separately, China also signaled willingness to discuss economic and trade relations with India, and its Foreign Ministry offered a pointed but light-toned response to remarks from the White House Press Secretary, saying she is welcome to visit China if the opportunity arises.
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Sources
- BusinessChina and the EU reached a deal on shipments of hybrid autos. Read about the good, the bad and the ugly of the pact.
- FinancialjuiceChina Finance Minister meets with EU Commissioner for economy, ECB President Lagarde, and Eurogroup president - Ministry Statement.
- FirstSquawkChina Ready to Make Full Use of Financial Dialogue and Other Mechanisms With EU, Finance Minister Says
- RedboxWireChina Ready to Make Full Use of Financial Dialogue and Other Mechanisms With EU, Finance Minister Says
- Sino_Market🇨🇳🇪🇺China urges EU to cooperate to advance China-EU trade CHINA said on the 16th at a regular briefing that the second meeting of the China-EU trade and investment consultation mechanism made positive progress, showing differences can be managed through dialogue. CHINA urged the EU to uphold openness and WTO rules, avoid protectionist or discriminatory measures, work with China to promote more balanced, sustainable China-EU trade, and jointly safeguard stable, uninterrupted global supply chains. ( )
- ZSchneeweissFranco-German auto pact is on hold over Berlin job-pledge worries via @KowalczeKamil @johnainger
- KalshiJUST IN: China tells the EU it is willing to communicate on global economic governance and macro-policy coordination
- ReutersChina ready to cooperate with EU in tackling global imbalances
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