World Economy

EU Import Bill From China in 2014: $338.8b

EU Import Bill From China in 2014: $338.8bEU Import Bill From China in 2014: $338.8b

The cooperation between China and the European Union, which has gone through an impressive development, can offer the powerful thrust the world’s economy needs at present as major economies are undergoing a slow and painful recovery.

As this year marks the 40th anniversary of the establishment of diplomatic ties between China and the EU, Chinese Premier Li Keqiang is attending the 17th China-EU leaders’ meeting in Brussels, the first since the change in EU leadership, Xinhua reported.

Besides this visit, Chinese President Xi Jinping’s landmark visit to the EU headquarters in Belgium and other European countries in March 2014 highlighted the frequent exchange of high-level visits between China and the EU.

Leaders from both sides have attached great importance to bilateral relations. Obviously, one of the most striking achievements in China-EU cooperation is the enormous success in economy and trade.

According to recent figures released by Eurostat, the statistical office of the EU, the value of EU imports of goods from China reached a peak of $338.8 billion in 2014.

While China was the second largest EU trading partner behind the United States, accounting for 14% of the total extra-EU trade in goods in 2014, the EU has been China’s largest trading partner for more than 10 years.

As bilateral trade has boomed continuously, cooperation in new technologies, environmental protection, people-to-people exchanges and other fields has also been vigorously promoted by China and the EU.

Several mutual visits are made by Chinese and Europeans every year. Earlier this month, Belgium, Germany and Britain adapted new measures to make it easier for Chinese nationals to get their visas.