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China EU investment agreement announces completion of negotiation

Dec 31 ,2020

According to Xinhua news agency, President Xi Jinping held a video meeting with German Chancellor Angela Dorothea Merkel, French President Emmanuel Macron, President of the Council of Europe, Michel and chairman of the European Commission Ursula von der Leyen in Beijing on the evening of 30.

The leaders of China and the EU jointly announced the completion of the China EU investment agreement negotiations on schedule.

China EU investment agreement is good for China and the world.

The conclusion of a balanced, high-level, mutually beneficial and win-win investment agreement between the world's major developed economies and the world's largest developing economies shows China's determination and confidence in promoting a high level of opening up. It will provide greater market access, a higher level of business environment, stronger institutional guarantee, brighter cooperation prospects for mutual investment between China and the EU, and will also effectively promote the development of China EU cooperation In the post earthquake period, the world economy recovers, strengthens the international community's confidence in economic globalization and free trade, and makes important contributions to the construction of an open world economy.

The China EU investment agreement negotiation started at the end of 2013, which has lasted for seven years and has held 35 rounds of formal negotiations. The Chinese side has always attached great importance to China EU negotiations. President Xi Jinping has repeatedly stressed the importance of accelerating Sino EU negotiations at important occasions such as the opening ceremony of the China International Import fair and the summit of the leaders of the twenty countries, and has in-depth exchanges with the leaders of the European Union and its Member States on many occasions. The leaders of China and the EU have always focused on the long-term development of China EU relations and continued to pay high attention to the negotiations, which provides a fundamental guarantee for the success of the negotiations.

China EU investment agreement is good for China. Accelerating the China EU negotiations is one of the major measures taken by China to actively promote high-level opening to the outside world in accordance with its own pace on the premise of safeguarding its own security and development interests. In the negotiations, both sides made high-level market access commitments, formulated balanced and comprehensive fair competition rules, and included them in the chapter of sustainable development for the first time. The high-level negotiation results achieved will help China speed up the construction of a new open economic system with a higher level, promote the construction of a new development pattern with domestic circulation as the main body and domestic and international double circulation promoting each other, create a legalized, internationalized and convenient business environment, and realize high-quality introduction and high-level going out.

The China EU investment agreement is beneficial to both sides. China is the largest trading partner of EU, and EU is the second largest trading partner, the third largest investment source and the third largest investment destination of China. The scale of mutual investment between the two sides is basically the same, and the accumulated stock exceeds 200 billion US dollars. Over the years, both sides have continued to benefit from investment cooperation, which has great potential to further expand investment cooperation. The China EU investment agreement will further expand market access between China and the EU, and enterprises of both sides will reap fruitful results from the better investment guarantee and more investment opportunities provided by the agreement. Trade and investment links between China and the EU, such as commodity flow, technology flow, service flow, capital flow and personnel flow, will also be more convenient and consolidated, which is conducive to the long-term, stable and healthy development of China EU relations.

The China EU investment agreement is also good for the world. Under the severe situation novel coronavirus pneumonia and the severe economic downturn in the world economy and the severe impact of the new crown pneumonia epidemic in the world economy, China and the EU have completed the investment agreement negotiations as the two major stabilizing force and major economy in the world, and released the positive signals of jointly safeguarding the multilateral and defending the rule based open world economy, which is conducive to better development. Play the role of "twin engines" of the world economy and inject more certainty and development momentum into the world economy.

SKET® BEARING is a professional Chinese manufacturer and supplier of Tapered Roller Bearings, DAC Auto Wheel Hub Bearings, Kingpin Thrust Bearings which are mainly for the EU market.

More than 15 years ago, our company was established in Liaocheng city, China and ever since, it has consistently focused all its activities on the research and producing of Tapered Roller Bearings. By doing so it has grown from a small family workshop into a professional manufacturers and supplier of tapered roller bearing in China. SKET now owns three bearings, bearing parts and casting products manufacturing companies by family joint operation.

SKET keeps developing new products to meet market demands. Now our bearings are used by Germany instrument manufacturer, and are being exported to America, UK, Poland and Russia market etc.

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