2016年CRI Chinese premier underscores trade, investment facilitation with EU

Addressing the meeting, Premier 1 Li Keqiang said China and Europe can offer more opportunities to each other against the backdrop of a sluggish 2 global economic recovery.

"We still need to dig up potentials for bilateral 3 trade. China and the EU are at different phases of development but their economies are complimentary 4. If we further open up our markets and create a favorable atmosphere for free trade, our trade ties will reach a new level."

Joined by European Commission President Jean-Claude Juncker, the premier suggested in his keynote speech that the two sides implement 5 the China-EU 2020 Strategic Agenda for Cooperation to better align 6 their development strategies.

Premier Li said China does not use subsidies 7 to give its industries a competitive edge, adding that the two sides should "properly deal with" trade disputes and oppose trade barriers.

"China definitely does not seek a trade surplus with the EU and is looking for more imports of middle to high-end consumer products and capital goods from the EU. We wish that the EU can reduce restrictions 8 on Chinese exports and can exercise restraint on using trade remedies to help create a good environment for bilateral trade."

China has the ability to hit its targets in economic and social development this year, which will also bring more opportunities for European business.

He also encouraged European companies to invest more in China's advanced manufacturing, service industry, and the central and western parts of the country.

He also called on China and Europe to cooperate more in finance, innovation and infrastructure 9 connections.

Regarding the steel overcapacity issue, Premier Li said only 10 percent of the steel produced in China is exported, and most of it doesn't go to the EU, and that China has imposed a 20 percent tax on steel exports.

He further notes that China is set to solve the problem of steel overcapacity with strong will and effective measures.

"China's will to solve the problem of steel overcapacity is resolute 10 and the measures are effective. We will reduce another 100 to 150 million tons of steel production and 800 million tons of coal production in the next few years after having cut 100 million tons in the past three years."

For his part, European Commission President Jean-Claude Juncker said that the EU was willing to enhance its partnership 11 with China and accelerate negotiations 12 on the EU-China investment treaty.

After the Summit, Premier Li and Juncker both witnessed the signing of 12 documents on a China-EU urbanization partnership.

For CRI, I'm Niu Honglin.