EU Seeks To Rebalance China Ties With Investment Agreement

• The European Union and China agreed on Wednesday to an investment deal that will give European companies greater access to Chinese markets and help redress what Europe sees as unbalanced economic ties.
• The agreement has been nearly seven years in the making and is likely to take at least another year to enter into force. It forms part of a new relationship with China, which the EU views as both a partner and a systemic rival.
• European firms will gain permission to operate in China in sectors including electric cars, private hospitals, real estate, advertising, the maritime industry, telecom cloud services, airline reservation systems, and ground handling.
• Some requirements that companies operate as part of joint ventures with Chinese partners will be lifted.

(Source: Reuters)