The Commission has published the schedules of commitments agreed under the EU-China Comprehensive Agreement on Investment (CAI), concluded in principle on 30 December 2020. Following the publication of the text of the agreement in January, the publication of market access offers today represents the next steps in the process towards adoption and ratification. They provide the basis for informed political deliberations and public debate. China is a key trading partner for the EU with a fast growing domestic market of 1.4 billion consumers. It is expected to contribute to almost 30% of global growth in the next five years. Over the past 20 years, European companies have invested €146 billion in China.
The agreement will provide increased legal certainty, improved market access and fairer rules of engagement in this key global market for European companies, investors and service providers. European Commission Executive Vice President and Trade Commissioner Valdis Dombrovskis said: “The CAI rebalances the EU-China investment relationship. Today’s publication of market access offers demonstrates how the CAI will help to level the playing field and provide more market openings for EU companies and investors. The agreement provides a clear and enforceable framework of rules, which will give EU businesses greater access and more certainty when investing in China.”
China has made significant commitments to guarantee EU companies access to the Chinese market. The CAI binds the autonomous openings made by China in the last 20 years, and brings additional market openings in a number of services and non-services sectors. With respect to non-services, China has made significant commitments in manufacturing, which makes up more than half of total EU investment in China – including 28% for the automotive sector and 22% for basic materials. In the services sector, China also makes commitments on access for European investors in telecommunications (cloud services), financial services, private healthcare, environmental services and air transport-related services (computer reservation systems).