BRUSSELS, December 30. / TASS / The European Union and China have completed negotiations on a comprehensive investment cooperation agreement. This was announced on Wednesday by the President of the European Commission (EC) Ursula von der Leyen following a video conference between the EU and China.

China and EU complete negotiations on investment agreement
China and EU complete negotiations on investment agreement

“The EU has the largest single market in the world. We are open to business, but we are committed to reciprocity, level playing field and values. The EU and China today completed negotiations on an investment agreement,” she wrote on her Twitter , stressing that the deal will facilitate "more balanced trade and business opportunities".

As per Xinhua

According to Xinhua news agency, the agreement was reached following a video conference held on Wednesday with the participation of Chinese President Xi Jinping, French President Emmanuel Macron, German Chancellor Angela Merkel, European Council President Charles Michel and European Commission President Ursula von der Leyen.

The EU and China have been negotiating an investment agreement since 2013. It is expected to improve conditions in the Chinese market for European investors and cover a number of key areas, including finance, telecommunications, and electric vehicle production. Thus, European business will receive more favorable conditions in expanding access to the PRC market than American business.

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