EU seeks to rebalance economic ties with China

WAM
08 Jul 2025, 19:23 GMT+10

BRUSSELS, 8th July, 2025 (WAM) -- Ursula von der Leyen, President of the European Commission, has announced that the European Union aims to rebalance its economic relationship with China by demanding fair and reciprocal access for European companies to the Chinese market.

Speaking before the European Parliament, von der Leyen stated that the issue of Chinese industrial overcapacity, which she said is state-subsidised, will top the agenda during an upcoming summit this month with Chinese President Xi Jinping.

She highlighted that the EU's trade deficit with Beijing reached US$357 billion in 2024, warning that China's industrial surplus cannot simply be offloaded onto global markets at the expense of European businesses.

Von der Leyen said, "If our partnership is to move forward, we need genuine rebalancing and reduced market distortions."

She added that the talks would also address calls for China to ease export restrictions on rare earth materials, in addition to discussions surrounding the ongoing Russia-Ukraine crisis.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Kenya Star.

More Information

null in null

Africa

Section

(SP)UGANDA-KAMPALA-RUGBY-AFRICA CUP-ALGERIA VS COTE D'IVOIRE

(250708) -- KAMPALA, July 8, 2025 (Xinhua) -- Mehdi Slamani (R) of Algeria vies with Boris Diomande of Cote d'Ivoire during a match...

Interview: China key contributor to Global South cooperation, says S. African analyst

China and Africa can restore the credibility and purposes of global institutions, and promote a more just and equitable international...

BRICS moves to expand Global South cooperation for inclusive, sustainable global governance

At the 17th BRICS Summit, leaders emphasized strengthening multilateralism, reforming global governance, and empowering the Global...

(Hello Africa) How Kiswahili is building a cultural bridge between China, Tanzania

Interest in Kiswahili among Chinese nationals is steadily rising. It represents a growing movement of cultural curiosity, mutual respect,...

Lavrov slams IMF and World Bank for favoring Ukraine over Africa

Russias foreign minister has called for the reform of global financial institutions and the more equitable distribution of aid Russian...

Kundai Matigimu fined 15% of match fees after breaching Level 1 of the ICC Code of Conduct

Bulawayo [Zimbabwe], July 8 (ANI): Zimbabwe's right-arm seamer Kundai Matigimu was fined 15 per cent of his match fees as he breached...

World

Section