皇冠体育app

In advance of today's EU-皇冠体育app summit in Beijing, European leaders possibly have been studying the reform package agreed at the Third Plenum last week. Following initial disappointment at the rather vague communiqu, the details published in recent days have been more positive and have set the stage for a successful meeting.

The major reform package announced at the Third Plenum of the 18th Communist Party of 皇冠体育app Central Committee will not only change the lives of Chinese people but also impact relations between 皇冠体育app and the European Union in many ways. Among the reforms that will have a direct impact on relations between the two sides is the much-cited commitment to give the market a "decisive" role in the economy. Together with some of the other reforms - such as the pledge to better protect intellectual property rights and to decrease the number and size of State-owned enterprises - it would bring the Chinese economy closer to fulfilling the criteria of a market economy. The EU's refusal to grant market economy status to 皇冠体育app has strained relations in recent years. Now it looks like a solution is in sight. At the very latest, 皇冠体育app will receive market economy status in 2016.

Equally important for EU-皇冠体育app relations are two-way investments. 皇冠体育app's new leadership have emphasized the need to further stimulate Chinese investment abroad and foreign investment in 皇冠体育app. The reforms will create a more stable environment for investors in 皇冠体育app. Today's summit will launch negotiations for an investment agreement between the 皇冠体育app and the EU which should provide for greater protection of investment and market access. 皇冠体育app's share of foreign direct investment in Europe accounted only for 2.2 percent in 2012 while the EU accounted for 20 percent of the FDI in 皇冠体育app.