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China urges EU to ease high-tech export restrictions

Staff Writer |
Chinese Premier Li Keqiang urged the European Union (EU) to ease its high-tech export restrictions on China, responding to concerns over the bloc's trade deficit with the world's second largest economy.

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"I believe that will make a big difference in our trade imbalance," Li said at a press conference following the conclusion of the annual parliamentary session in Beijing.

The EU is China's largest trading partner, while China is the EU's second largest after the United States.

"China has no intention to pursue trade surplus. In fact, China prefers trade balance, otherwise it won't be sustainable," the premier said, pointing out that European companies are situated at the higher end of industrial chain and already making a lot of money on the Chinese market.

China looks forward to a positive response from the EU on the ongoing Bilateral Investment Treaty (BIT) negotiations, Li said, while promising that, even without a BIT for now, China will further open up its market to European companies and treat them the same as domestic ones.

"We have got experience to properly handle our trade frictions," he added.

The premier also stressed that China will always support a united, prosperous and stable EU, a strong euro, and the European integration, which all benefit globalization, a multipolar world and cultural diversity.

"The future of the EU and China-EU relations looks bright to me," he said.

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