Landmark China-EU investment treaty a boon for both sides: Xi

The landmark China-European Union investment treaty will provide larger market access for both sides and a brighter future for China-EU cooperation, President Xi Jinping said on Wednesday.

In a video conference with German Chancellor Angela Merkel, French President Emmanuel Macron, European Council President Charles Michel and European Commission President Ursula von der Leyen, Xi and the European leaders announced the final conclusion of the negotiations.

The China-EU investment agreement has demonstrated China's resolution and confidence to promote high-level opening-up, Xi said.

It will promote the recovery of the world economy in the post-pandemic era, facilitate global trade and economy, boost the international community's confidence toward economic globalization and free trade, and make important contributions to building an open world economy, he added.

The China-EU investment deal negotiations started in October 2013, aiming at reaching a higher-level agreement covering investment protection and market access. The two sides held the 35th round of negotiations early this month.