EU-China Investment Agreement
On 30 December 2020, the EU and China have concluded in principle the negotiations Comprehensive Agreement on Investment (CAI). The agreement includes the Chinese commitments on environment and climate, including the effective implementation of the Paris Agreement.
In terms of market access for EU businesses, China has made significant commitments on manufacturing, the most important sector for EU investment in China. Manufacturing makes up more than half of total EU investment – including 28% for the automotive sector and 22% for basic materials.
With this agreement, China also commits to working towards the ratification of the outstanding ILO (International Labour Organisation) fundamental Conventions.
Next steps: The EU and China will now need to finalise the text of the agreement. Afterwards, the text will be legally reviewed and translated before being submitted for approval by the Council and the European Parliament.
Further information: HERE