The Head Of The Department Of Treaty And Law Of The Ministry Of Commerce Answered Reporters' Questions On The Completion Of The Sino EU Investment Agreement Negotiations On Schedule

Xinhua news agency, Beijing, December 30 (Xinhua): a balanced, high-level, mutually beneficial and win-win agreement

Xinhua reporters Yu Jiaxin, Liu Hongxia and Sun Nan

On December 30, Chinese and European leaders jointly announced the completion of the China EU investment agreement negotiations as scheduled. The person in charge of the Department of treaty and law of the Ministry of Commerce responded to relevant hot spots on the same day.

The scope of the agreement is far beyond that of traditional bilateral investment agreements

What are the main contents and characteristics of the negotiation results?

The person in charge of the Department of articles and law of the Ministry of Commerce said that the China EU investment agreement is a balanced, high-level, mutually beneficial and win-win agreement, which is benchmarked with international high-level economic and trade rules and focuses on institutional openness.

The balance is mainly reflected in the following aspects: first, both sides have made an opening-up commitment and attached great importance to retaining the necessary regulatory power; second, both sides have paid attention to promoting bilateral investment cooperation and emphasizing that investment should be conducive to sustainable development.

The high level is mainly reflected in the fact that both sides are committed to promoting investment liberalization and facilitation, and have reached a high level of negotiation results. The areas covered by the agreement are far beyond the traditional bilateral investment agreements. The negotiation results cover market access commitments, fair competition rules, sustainable development and dispute settlement.

Mutual benefit and win-win results are mainly reflected in the fact that both sides have made high-level and mutually beneficial market access commitments, and all the rules are applicable in both directions, which will create a fair competition environment for enterprises and benefit Chinese and European enterprises and even global enterprises.

It will bring more investment opportunities and a better business environment

What benefits will the agreement bring to the enterprises of both sides?

The person in charge of the Department of article and law of the Ministry of Commerce said that the high level of market access commitment will bring more investment opportunities for enterprises of both sides. A high level of fair competition rules will provide a better business environment for bilateral investment.

In terms of market access, the agreement adopts the mode of pre access national treatment plus negative list. For the first time, China has made a commitment in the form of negative list in all industries, including service industry and non service industry, so as to realize the full docking with the management system of negative foreign investment list established by the foreign investment law. In the agreement, the European side also promised me a higher level of market access.

In addition, in view of the market access restrictions that do not discriminate against foreign investment but have a significant impact on the establishment and operation of enterprises, the two sides will also undertake not to impose restrictions on the number of enterprises, production, turnover, directors and executives, local R & D, export performance and headquarters setting in most economic fields, and allow foreign exchange transfer related to investment and entry and residence of personnel.

In terms of fair competition rules, the two sides have reached consensus on issues closely related to enterprise operation, such as state-owned enterprises, subsidy transparency, technology transfer, standard formulation, administrative law enforcement and financial supervision, based on the establishment of a legal business environment.

Promoting investment conducive to achieving sustainable development goals

What are the contents of the agreement on sustainable development?

The person in charge of the Department of article and law of the Ministry of Commerce said that China has always attached great importance to sustainable development, including environmental protection and protection of workers' rights and interests, and practiced the new concept of development and the people-centered development idea. The fundamental purpose of development is to meet the people's aspiration for a better life. At the same time, we also note that the inclusion of environmental protection and labor issues related to economic and trade has become an important feature of international economic and trade agreements in recent years. Based on the above considerations, the agreement makes special provisions on environmental and labor issues related to investment. The two sides will promote investment conducive to the realization of sustainable development goals, properly handle the relationship between attracting investment and protecting the environment and workers' rights and interests, and abide by relevant international commitments.

Strive to promote the early signing of the agreement

When will the agreement come into force?

The person in charge of the Department of articles and law of the Ministry of Commerce said that in the next step, the two sides will carry out text review, translation and other work, and strive to promote the early signing of the agreement. Thereafter, the agreement will enter into force after the parties have completed their respective internal ratification procedures.