China has expressed its willingness to strengthen cooperation with the European Union (EU) on global economic challenges, including trade imbalances and the coordination of economic policies between major economies.
China’s Finance Minister, Lan Foan, made the position known on Friday, October 16, during a meeting with senior European officials in Bangkok, Thailand.
The meeting was attended by EU Economy and Productivity Commissioner Valdis Dombrovskis, European Central Bank President Christine Lagarde and Eurogroup President Kyriakos Pierrakakis.
According to a statement from China’s finance ministry, Lan described global economic imbalances as a complicated structural issue increasingly affected by factors beyond economics, including geopolitical tensions and protectionist policies.
He urged countries to approach the issue objectively and consider the different factors contributing to the problem.
“All parties should view imbalances comprehensively, objectively,” Lan said, while calling for greater dialogue, cooperation and coordination of macroeconomic policies.
His comments come amid ongoing trade tensions between China and the European Union, particularly over Chinese exports to the European market.
Just a week before the meeting, China and the EU reached an agreement aimed at limiting Chinese hybrid car exports to the bloc, highlighting efforts to address disagreements over trade and market competition.
The European Union has been seeking to reduce its trade deficit with China, which reportedly reached €360 billion, equivalent to approximately $400 billion, in 2025.
The growing trade gap has become a major concern for European officials, who have called for a more balanced economic relationship with Beijing.
China’s latest statement signals its readiness to engage with European leaders on these issues through dialogue and policy coordination. However, both sides continue to face the challenge of balancing economic cooperation with disagreements over trade, industrial competition and geopolitical interests.
