A new leadership path rings in 2021
Strategic cooperation between China, Europe sets stage for global recovery and green development
Anew year brings the pandemic-ridden world new hopes. As Chinese President Xi Jinping mentioned in his New Year public address, China is expected to move robustly ahead with reforms and green development strategies which can carry along other economies despite the adverse impact of the COVID-19 pandemic. Its investment deal with the European Union is a landmark in global business, following the Regional Comprehensive Economic Partnership agreement in November, which injects hope for sustainable growth across the AsiaPacific.
Both the EU and the United Kingdom embrace their own opportunities after the final chapter of Brexit. The United States puts hope of recovery on its incoming White House occupant and vaccines. Africa is expected to unleash the potential of a newly established free trade mechanism.
A historic China-EU investment deal made on Dec 30 will provide greater market access for both sides and a brighter future for China-EU cooperation, President Xi said.
The agreement was reached “in principle” as negotiations on the bilateral investment agreement drew to a close, the negotiators said.
In a videoconference 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 jointly announced the conclusion of the negotiations after more than seven years of talks.
The balanced, high-quality and mutually beneficial agreement demonstrates China’s resolve and confidence to promote high-level openingup, Xi said.
It will promote recovery of the world economy in the post-pandemic era, facilitate global trade and the global 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.
Negotiations for the China- EU investment deal began in October 2013, aiming to reach a higher-level agreement covering investment protection and market access. The two sides held the 35th round of negotiations last month.
Xi noted that China is dedicated to building a new development paradigm, which will bring more market opportunities and greater space for cooperation for Europe and the whole world.
Xi said he hoped the EU would promote free trade and multilateralism, and provide an open, fair and nondiscriminatory business environment for Chinese investors.
Xi pointed out that 2020 has been an extraordinary year for China, Europe and the world, with rising uncertainties given the outbreak of COVID-19 and the great changes unseen in a century.
China and Europe have overcome difficulties and made fruitful achievements in strengthening bilateral relations, he said.
China and Europe, as two major forces, two large markets and two ancient civilizations, should assume their responsibilities and be proactive in promoting global peace and progress, Xi said.
The president put forward five proposals, namely coordinating their efforts to fight against pandemics, jointly promoting recovery of the economy, connecting development strategies, promoting green development and pushing forward multilateral cooperation.
The investment treaty is a comprehensive, balanced and advanced agreement that is based on high-level international economic and trade rules, and focuses on institutional openness, the Ministry of Commerce said on Dec 30.
Li Yongjie, director-general of the ministry’s department of treaty and law, said the results of the negotiations covers four areas — market access commitments, fair competition rules, sustainable development and dispute settlement.
The European leaders said that despite the influence of COVID-19, Europe-China communications have been strengthened in 2020, with a great amount of progress made, including the conclusion of a geographical indications agreement on product origins.
The conclusion of negotiations for the EU- China investment deal is a milestone for Europe-China relations, the leaders said.
Jochum Haakma, chairman of Brussels-based EU- China Business Association, said the association is very happy that a decision to conclude the negotiations has been taken, and of course details will need to be hammered out in coming months and ratified by the European Parliament.
Based on the negotiations, European companies active in such industries as financial services, telecommunications services and new energy vehicles would see new opportunities in China, he said.
It will be of great importance and a big step for the bilateral relationship and shows the political willingness of both parties to continue to sit down together and to try to solve problems and misunderstandings on the basis of reciprocity and a level playing field, he said.
Bernard Dewit, chairman of the Belgian- Chinese Chamber of Commerce, said the move will help to increase trade between China and the EU. European companies and investors in China will benefit from that.
The EU and the UK are looking forward to their Brexit deal, formally signed by British Prime Minister Boris Johnson, along with EU leaders von der Leyen and Michel. The EU-UK Trade and Cooperation Agreement was reached on Dec 24 after prolonged months of negotiations.
Europeans have begun lifting travel bans on Britain that were put in place to contain a fast-spreading COVID-19 strain in actions that came ahead of talks by World Health Organization experts on the coronavirus variant.
The new variant seems to have spread afar, with first known confirmed cases reported in the US, China’s Shanghai and Hong Kong, and Chile among other countries.
But as total confirmed cases approach 20 million with nearly 350,000 deaths, the most advanced country in medicine and technology reflects the world’s pain.
Worse, air travel at approximately a million flights a day and large, unmasked gatherings in disregard of social distancing rules are painting a pessimistic picture. On Dec 29, US President-elect Joe Biden criticized the current administration for the slowerthan-expected pace of the country’s nationwide COVID-19 vaccination.
However, the outgoing Donald Trump administration, instead of focusing on stopping the loss of lives and livelihoods of the American people to the pandemic, has been repeatedly finding fault with China, with the latest move of signing into law a funding bill for fiscal year 2021 which contains China-related negative content.
The related content, with clauses on Tibet, Taiwan, Hong Kong and Xinjiang, have seriously damaged China’s national interests and grossly interfered in China’s internal affairs, the Foreign Affairs Committee of the National People’s Congress, China’s national legislature, said in a Dec 30 statement that strongly condemned and firmly opposed the US move.
In disregard of the facts, some politicians of the US Congress launched vicious slander against China’s policies on Tibet. It has fully exposed the US side’s scheme of using Tibetrelated matters to interfere in China’s domestic affairs and contain China’s development, the statement from the NPC committee said.
Tibet has made tremendous achievements in economic and social development and seen people’s living standards greatly improved, and the right to freedom of religious belief enjoyed by all ethnic groups in Tibet is protected by the Constitution and law, it said.
The US bill contained groundless accusations of the human rights situation in Tibet, said the China Association for Preservation and Development of Tibetan Culture on Dec 30. The association “will never accept and strongly opposes the US practice”, it said in a statement.
Some clauses in the act bolstered elements seeking “Taiwan independence” and wantonly slandered China’s policies and measures under the law to safeguard prosperity and stability in Hong Kong and Xinjiang Uygur autonomous region. The clauses were also condemned by the Chinese side.
At home, China is destined to continue on a path of further reform and opening for green, inclusive and sustainable development, and succeeded in containing the pandemic and achieving its goal set in 2013 to eliminate absolute poverty at the current level by 2020, lifting millions out of poverty forever.
Since the Third Plenary Session of the 18th Central Committee of the Communist Party of China in November 2013, China has undertaken a reform process with a view to firmly break institutional barriers and actively respond to the risks and challenges caused by changes in the external environment.
While presiding over the 17th meeting of the central committee for deepening overall reform on Dec 30, President Xi described the reforms that have taken place in China over the years as a profound revolution in theories, institutions and the nation’s governance system with broad involvement of the people.
Xi commended the country’s “historic achievements” in deepening overall reforms and called for greater progress and bolder moves in reforms at the new development stage.
Noting that a lot of complicated problems and conflicts remain ahead, he called for innovative reforms to serve the overall situation of the Party’s and the country’s work by concentrating efforts on adhering to the new development philosophy, building the new development paradigm and advancing high-quality development.
Analysts said China’s reform and growth are expected to further drive regional economies and particularly Belt and Road Initiative partners in Asia, Africa and Latin America in the new year.