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Wednesday, March 15, 2017, 16:04

China urges EU to ease high-tech export restrictions

By Xinhua

BEIJING - Chinese Premier Li Keqiang on Wednesday urged the European Union (EU) to ease its high-tech export restrictions on China, responding to concerns over the bloc's trade deficit with the world's second largest economy.

"I believe that will make a big difference in our trade imbalance," Li said at a press conference following the conclusion of the annual parliamentary session in Beijing.

The EU is China's largest trading partner, while China is the EU's second largest after the United States.

China has no intention to pursue trade surplus. In fact, China prefers trade balance, otherwise it won't be sustainable

Li Keqiang, Chinese Premier

"China has no intention to pursue trade surplus. In fact, China prefers trade balance, otherwise it won't be sustainable," the premier said, pointing out that European companies are situated at the higher end of industrial chain and already making a lot of money on the Chinese market.

China looks forward to a positive response from the EU on the ongoing Bilateral Investment Treaty (BIT) negotiations, Li said, while promising that, even without a BIT for now, China will further open up its market to European companies and treat them the same as domestic ones.

"We have got experience to properly handle our trade frictions," he added.

The premier also stressed that China will always support a united, prosperous and stable EU, a strong euro, and the European integration, which all benefit globalization, a multipolar world and cultural diversity.

"The future of the EU and China-EU relations looks bright to me," he said.

China-Russia trade 'turns for strong growth'

On Wednesday, Li also said that China-Russia trade relations have turned the corner and achieved strong growth.

The outcome should be attributed to the joint efforts from both sides, he said while addressing a press conference after the conclusion of the annual session of national legislature.

Against the backdrop of sluggish global economic recovery and slow growth of global trade, Li said, China-Russia trade and economic ties had been affected by factors including lower energy prices in recent years.

In the first two months this year, two-way trade recorded a big surge, showing there is still tremendous untapped potential in China-Russia economic and trade ties and the two economies are highly complementary, Li said.

He added that the goals for two-way trade can be achieved.

As to bilateral relationship, Li said that China and Russia, being each other's biggest neighbor, enjoy a comprehensive strategic partnership of coordination.

The sound and steady development of China-Russia relations is good not only for the region, but also the world, he said.

The presidents of China and Russia met several times last year and reached important consensuses, Li said, adding that the meeting mechanism between the premiers of the two nations has been carried out as scheduled for years, an indicator of the stability in China-Russia relations.

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