China and EU Close to Finalising Major Investment Deal.
The EU and China are said to be very close to reaching a long-awaited business investment deal. The pact, which is expected to be finalised this week, will give EU firms better access to the Chinese market and improve competition conditions. Talks on the investment deal actually began in 2014 but have been stalled for years concerning a number of issues.
However, it is now thought that rising trade tensions between the US and China may have helped alter the Chinese position. The deal comes hot on the heels of the UK’s post-Brexit trade agreement with the EU which was announced on 24 December. When completed, the deal would open up China’s manufacturing sector to EU companies, as well as construction, advertising, air transport and telecoms, says China’s state media.
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