Thanks to a major program of economic reforms that encouraged the formation of rural enterprises and private businesses, liberalized foreign trade and investment, softened state control over some prices and opened the doors to foreign companies, China is growing at a very high speed rate. Even in the COVID times, China was the only major country in the world to see its economy growing by 4,9% in the July to September quarter and by 2021 it is expected to grow by 8.4%.
Today the EU is the PRC’s largest trading partner. The EU is China’s largest trading partner, while China is the EU’s second largest trade partner
- China is the EU’s biggest source of imports and its second-biggest export market.
- EU’s main exports to China re: machinery and equipment, motor vehicles, aircraft and chemicals
- EU-China trade in services amount to more than 10% of total trade in goods.
