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.

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