Ministry of Commerce: China and Europe maintain intensive consultations and initially agreed to hold a second consultation mechanism meeting this fall

The Zhitong Finance App learned that on July 30, the Ministry of Commerce held a regular press conference. In response to the recent progress of intensive negotiations between China and Europe, Ministry of Commerce spokesman He Yadong said that at the first meeting of the Sino-European trade and investment consultation mechanism, the two sides reached a consensus on the new position of a “stable and balanced key trade partner between China and Europe,” and initially agreed to hold a second meeting of the consultation mechanism this fall.

He Yadong said that the Chinese and European working teams have conducted more than 20 separate consultations, and the four working groups have carried out in-depth and professional communication on each other's economic and trade claims. China is ready to continue to maintain high-frequency communication with the European side, respect each other and move in the opposite direction, discuss practical solutions to resolve their respective concerns in the economic and trade fields, promote the upward balance and development of Sino-European trade, and maintain the stability and balance of the key trade partnership between China and Europe.

The original text is as follows:

The Ministry of Commerce held a regular press conference

[He Yadong]: Dear reporters and friends:

Good afternoon everyone. Welcome to the Ministry of Commerce's regular press conference. I have no information I need to share with you today. Next, I would like to answer the questions raised by my journalist friends.

Please ask questions below.

[General Station CGTN Reporter]: On June 29, China and Europe held the first meeting of the trade and investment consultation mechanism, and initially agreed to hold the second meeting of the mechanism in the fall of this year. We have noticed that China and Europe have maintained intensive negotiations recently. Can you tell us about the relevant developments?

[He Yadong]: The first meeting of the Sino-European trade and investment consultation mechanism you just mentioned. At this meeting, the two sides reached a consensus on the new position of a “stable and balanced key trade partner between China and Europe,” and initially agreed to hold a second meeting of the consultation mechanism this fall.

Over the past month, we have actively implemented the consensus on the outcome of the first meeting, made every effort to prepare for the second meeting, closely coordinated internally, and maintained high-frequency, multi-level consultations with the outside world. Recently, Minister Wang Wentao and member Shevcovic maintained close communication through an exchange of letters and other means to guide the two teams to advance their work in an orderly manner. Vice Minister Ling Ji had two video negotiations with Deputy Director General Lei Donnei of the European Commission's Directorate General for Trade and Economic Security, and exchanged information several times to try to resolve each other's concerns in a balanced manner. The working teams of China and Europe have conducted more than 20 separate consultations, and the four working groups have carried out in-depth and professional communication on each other's economic and trade claims.

What I want to emphasize is that China is willing to continue to maintain high-frequency communication with the European side, respect each other and move in the opposite direction, explore practical solutions to each other's concerns in the economic and trade fields, promote the upward balance and development of Sino-European trade, and maintain the stability and balance of the key trade partnership between China and Europe. Thank you.

[Hong Kong Economic Report Reporter]: This month marks the 29th anniversary of Hong Kong's return to the motherland. Please let the Ministry of Commerce introduce the highlights of the results of economic and trade cooperation between the two places?

[He Yadong]: In the 29 years since Hong Kong returned to the motherland, economic and trade exchanges between the Mainland and Hong Kong have continued to deepen and improve. Hong Kong has always been an important trading partner of the mainland. While integrating and serving the country's overall development, it has achieved its own high-quality development.

Over the past 29 years, the Mainland and Hong Kong have continued to raise the level of openness of the “Closer Economic and Trade Partnership Arrangement” (CEPA) through the Economic and Trade Cooperation Committee mechanism. The Mainland has fully liberalized trade in goods and basically liberalized trade in services with Hong Kong, and has carried out rich and practical cooperation in trade and investment facilitation. At the same time, we are actively promoting the construction of the Guangdong-Hong Kong-Macao Greater Bay Area in the commercial field, strongly supporting Hong Kong's participation in the joint construction of the “Belt and Road” and overseas integrated service systems, ensuring the safe and stable supply of agricultural and sideline products supplied to Hong Kong, and strongly promoting and safeguarding Hong Kong's economic and social development.

This year marks the beginning of the “15th Five-Year Plan”. We will work with the Hong Kong Special Administrative Region Government to promote a new round of CEPA upgrades, further deepen economic and trade exchanges and cooperation between the two places, help Hong Kong consolidate and enhance its status as an international financial, shipping and trade center, and maintain and promote Hong Kong's long-term prosperity and stability. Thank you.

[CCTV Finance Reporter]: National economic and technological development zones are one of the important open carriers in China. Every year, the Ministry of Commerce conducts comprehensive development level assessments. How is the assessment and evaluation of national economic development zones this year? What is the driving effect on high-quality development?

[He Yadong]: Since the establishment of the first batch of 14 national economic and technological development zones (hereinafter referred to as national economic development zones) in 1984, national economic development zones have insisted on expanding opening-up and deepening reform and innovation. They have gradually become the main position for stabilizing foreign trade and foreign investment, a gathering area for the development of new quality productivity, and a strong engine for coordinated regional development. It mainly manifests itself in the following four aspects:

First, the “first tier” position of foreign trade and foreign investment is more stable. According to the 2025 assessment and evaluation results, in 2024, the national economic development zone achieved a total import and export volume of 10.6 trillion yuan, and the actual amount of foreign capital used was 26.84 billion US dollars, all accounting for nearly 1/4 of the country's total, gathering more than 110,000 foreign trade enterprises and 70,000 foreign-funded enterprises. The quality of the use of foreign capital in national economic development zones continues to improve, and national economic development zones in places such as Suzhou, Guangzhou, and Hefei have become gathering places for regional headquarters and functional institutions for multinational companies.

Second, the leading demonstration role of scientific and technological innovation is becoming more and more prominent. In recent years, national economic development zones have gradually formed industrial highlands with outstanding cluster effects, clear division of professional labor, and perfect support systems. By the end of 2024, the National Economic Development Zone had 708 national incubators and creative spaces, 19,000 R&D institutions at the provincial level and above, and 80,000 high-tech enterprises, injecting inexhaustible impetus into improving innovation efficiency. For example, the 27 national economic development zones in Jiangsu have 585 advanced or higher smart factories, accounting for one-third of the province.

Third, the strategic fulcrum role in serving coordinated regional development continues to grow. In recent years, national economic development zones have actively carried out inter-park project docking and cooperative construction based on their own resource endowments, factor conditions, and industrial advantages, and promoted the settlement of a number of core supporting projects in the Midwest Economic Development Zone. In 2024, national economic development zones in the eastern region will cooperate and build with national economic development zones in the central and western regions, and the number of matters relating to aid to the border (cross) border cooperation zones in the national economic development zone will increase by 99 over the previous year.

Fourth, the vitality of institutional mechanism reform and innovation continues to be unleashed. National economic development zones combine practice and continue to deepen institutional mechanism innovation. Currently, over 90% of national economic development zones have adopted a “management committee+company” management model, while others have adopted a unified district administration or corporate system. At the same time, national-level economic development zones, pilot free trade zones, and special customs supervision zones have developed in conjunction to give full play to the superposition advantages of open carriers and form multi-faceted system innovation results. For example, Tianjin tailor-made joint innovation implementation plans for 5 national economic development zones and pilot free trade zones, and implemented 58 innovative initiatives.

In the next step, the Ministry of Commerce will thoroughly implement the decisions and arrangements of the Party Central Committee and the State Council, optimize the assessment and evaluation index system for national economic development zones, improve the dynamic management system, continuously stimulate innovation vitality and endogenous motivation, and promote the upgrading of standards and high-quality development in national economic development zones. Thank you.

This article was selected from the “Ministry of Commerce” official website, Zhitong Finance Editor: Jiang Yuanhua.