Bright prospects beckon for China-Europe ties

In a speech he delivered at this year's World Economic Forum Annual Meeting in Davos last week, Vice-Premier Ding Xuexiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, reiterated China's support for economic globalization, and its resolve to continue to uphold multilateralism. Such a stance, as well as the promise that "China's door of opening up will not be closed and will only open even wider" has injected certainty to boost the stability of the world at a time when the protectionist policies being adopted by the world's largest economy are expected to bring more uncertainties to trade, technology and the geopolitical landscape worldwide.

That's where China and Europe have common ground to strengthen their relations. It is the responsibility they have shared to uphold the global free trade system and other forms of multilateral cooperation that has continuously injected vitality into China-Europe ties.

Ding's visit to Switzerland and the Netherlands from Jan 19 to 24, therefore, marks a good start for the mutually beneficial relations between China and Europe this year.

During Ding's visit to Switzerland, the two sides agreed to further promote their innovative strategic partnership based on the same position they share on upholding free trade and opposing protectionism. Swiss President Karin Keller-Sutter underscored that the success story of the China-Switzerland free trade agreement shows that mutual benefit can be achieved through openness and cooperation.

Since it came into effect in 2013, the Sino-Swiss FTA has played a positive role in promoting bilateral trade, and enterprises in both countries have greatly benefited from it. China is now Switzerland's third-largest trading partner, while Switzerland is China's sixth-largest in Europe.

Likewise, during Ding's visit to the Netherlands, the two sides agreed to uphold open cooperation and promote an open world economy, while expressing their firm support for multilateralism. Dutch Prime Minister Dick Schoof, during his talks with Ding, noted that the Netherlands is ready to work with China to safeguard free trade and promote openness and cooperation.

Bilateral relations hit a snag recently following the announcement that the Netherlands would impose stricter export controls on certain semiconductor manufacturing equipment and software. The move, which has unreasonably expanded the concept of national security, is believed to have been initiated under pressure from Washington to crack down on China's high-tech industry. Given the semiconductor industry is highly globalized, any abusing of export controls poses a serious threat to the stability of global industry and supply chains.

That is why during his talks with his hosts, Ding expressed the hope that "the Dutch side will continue to provide a fair, equitable and nondiscriminatory business environment for Chinese companies …and maintain stable and unimpeded global industry and supply chains". Given that both countries are beneficiaries and supporters of an open world economy, any move counter to the principle of free trade will serve neither side's interests.

This year marks the 50th anniversary of the establishment of diplomatic relations between China and the European Union, and Ding expressed the willingness of China to strengthen dialogue and cooperation with the EU to promote the sound and stable development of China-EU relations.

It is encouraging that in face of a complex and volatile world, China and the EU remain committed to dialogue and consultation to build consensus and overcome differences.

European Commission President Ursula von der Leyen, during her speech in Davos, said: "I believe that we must engage constructively with China — to find solutions in our mutual interest." She also saw the 50th anniversary as "an opportunity to engage and deepen our relationship with China, and where possible, even to expand our trade and investment ties".

Indeed, China and the EU, as each other's important trading partners with their economies highly intertwined, have far more shared interests than differences. For them to remain trustworthy and reliable cooperation partners on their paths to development will not only serve their own interests, but also contribute to the stability and prosperity of the world.