Phoenix TV:

We would like to ask about the specific performance of trade between China and the European Union (EU) over the past year. We have also noted recent progress made by China and the EU regarding electric vehicle trade. What expectations and outlook does the GACC have for China-EU trade this year? Thank you.

Wang Jun:

I would like to invite Mr. Lyu Daliang to respond to the questions.

Lyu Daliang:

Thank you for your questions. China and the EU are each other's second-largest trading partners. According to China's customs statistics, in 2025 China's total imports and exports with the EU reached 5.93 trillion yuan, up 6%, accounting for 13% of China's total foreign trade and contributing 0.8 percentage point to its overall foreign trade growth. According to data from the EU, in the first 10 months of 2025, trade between the EU and China exceeded 700 billion U.S. dollars, accounting for 14.5% of the EU's total external trade and contributing more than 0.8 percentage point to its overall foreign trade growth. The economies of China and the EU are highly complementary, with deeply intertwined interests. This is reflected in three main aspects based on trade data:

First, the two sides were deeply connected in the field of consumer goods. The EU was China's largest source of consumer-good imports and its largest export market for such products, accounting for 26.8% of China's total imports and 16.2% of total exports in this category, respectively. Import from the EU of luggage, healthcare products, passenger vehicles, and cosmetics each accounted for more than 40% of China's imports of these respective products. Meanwhile, China's exports to the EU of electrical and electronic products, garments, and kitchenware grew by 3.4%, 3.7% and 3.6%, respectively, further enriching consumer choices on both sides.

Second, the two sides maintained close links in the high-technology sector. The EU was China's second-largest source of high-tech imports and its third-largest export market. More than one quarter of China-EU merchandise trade was concentrated in high-tech products. In 2025, China's exports of high-tech products to the EU grew by 7.5%, while such imports from the EU increased by 11.1%.

Third, the potential for cooperation in green development continued to be unleashed. Both China and the EU actively support low-carbon transition and green development, making green cooperation a defining feature of bilateral trade. In 2025, China's exports to the EU of wind power equipment surged by 65.9%, while exports of electrical equipment such as DC charging stations and energy-storage batteries rose by 25.4%. Imports from the EU of recyclable products increased by 18.9%. As China's green and low-carbon transition continues to accelerate, there remains broad space for cooperation between the two sides in this field.

At present, unilateralism and protectionism are on the rise, and the rules-based multilateral trading system faces severe challenges. China and the EU are both constructive forces that uphold multilateralism and advocate openness and cooperation. The two sides should move in the same direction, stay committed to dialogue and cooperation, properly manage differences, jointly uphold free trade and practice multilateralism, and promote the sound and stable development of China-EU economic and trade relations. Thank you.