Focus on services trade in Sino-European cooperation

If breakthrough is made, EU will be the first to enter China's market with 1.3 billion consumers

Against the background of increasing trade protectionism, populism and unilateralism, China and the European Union are facing the major task of strengthening economic and trade cooperation, safeguarding the multilateral trading system, and responding to the trend of deglobalization.

The rapid development of services trade has become a prominent feature of economic globalization. At present, the GDP of China and the EU (27 countries) accounts for 36.6 percent of the world's total, and their trade volume accounts for 44.1 percent of the world's total. Focusing on services trade to deepen Sino-European economic and trade cooperation will have a major impact on China's economic restructuring and upgrading, as well as on the economic recovery of the EU and economic globalization.