EU looks to increase collaboration with Beijing

China and the European Union should focus on structural reforms, growth-friendly fiscal policies and more collaboration under the G20 framework as they look to achieve long-term growth, according to a senior official of the European Commission.

Marco Buti, director-general for economic and financial affairs for the European Commission, shared his insights regarding how China and the EU could lift growth even as they face economic headwinds, in an interview ahead of the G20 Summit in Hangzhou.

"The G20 Summit comes at a crucial moment when the global economy's revival is being slowed, and neither advanced nor developing economies can exclude themselves from downward pressure," he said.