South China Morning Post reports progress at latest EU–China Summit

Brussels and Beijing have reached a landmark agreement to establish a new mechanism aimed at safeguarding exports of critical minerals, a move seen as crucial for ensuring the stability of global supply chains vital to the energy, mobility, and technology sectors.

The agreement, announced during the latest EU–China Summit, reflects a shared commitment to reducing risks in the trade of essential raw materials. European Commission President Ursula von der Leyen welcomed the initiative, highlighting recent efforts by China to accelerate the approval of export licenses for strategic materials.

The European Union, however, reiterated its concerns over persistent trade imbalances and what it sees as unfair subsidies in the Chinese market. Despite these issues, Brussels emphasized its willingness to maintain open channels of dialogue with Beijing.

Officials on both sides expressed optimism that the new mechanism could pave the way for deeper cooperation in green and digital value chains, potentially unlocking new business opportunities for European firms operating in China and beyond.

The agreement is being interpreted as a step towards rebuilding trust in the economic relationship between the two powers, at a time when geopolitical tensions and global competition continue to reshape international trade dynamics.

The text above is merely a summary. For more details about this news, please consult the official website.