18. Leaders also reaffirmed their commitment to the High Level Economic and Trade Dialogue (HED), and acknowledged that the HED is conducive to advancing their economic and trade relations in a strategic, forward-looking and plan-setting manner. The HED gives a strong political impetus to existing bilateral economic dialogues and mechanisms and encourages them to seek concrete means to advance trade and investment in a balanced way. China and the EU agreed on the importance of using all avenues to expand economic openness and reform in their bilateral relationship and in their respective economies to ensure an open, stable and predictable environment, with a view to creating new business opportunities. China and the EU will seek to facilitate trade and investment among small and medium sized enterprises (SMEs) and explore possibilities of cooperation in other areas, including on trade finance and technology trade. Both sides will work together to enhance trade and investment opportunities arising from the move towards a green economy. In this context, both sides welcomed the 5th China-EU Business Summit and its focus on the "Green Agenda: Sustaining Growth Beyond Recovery".

19. China and the EU agreed that efforts to stimulate demand should be based on transparency and non-discrimination of foreign invested enterprises. They recognized the importance of open and non-discriminatory government procurement policies and agreed to pursue efforts to increase exchanges in this field. The EU expressed support to China's efforts to accede to the WTO Government Procurement Agreement and encouraged China in its preparation of a revised offer.

20. Leaders acknowledged the need for a robust, efficiently enforced and well-functioning IPR system for continued economic development. They committed to step up their cooperation on intellectual property rights. Leaders also welcomed the launch of negotiations on a China-EU Geographical Indications bilateral cooperation agreement.

21. Leaders discussed the politically important issue of Market Economy Status (MES). Both sides look forward to the timely update of the last MES report and recognize the important progress already made by China for the outstanding technical criteria. To that effect, they welcome the launch of a study on the implementation of accounting standards in China.

22. Leaders also welcomed the Forum on China-EU Strategic Partnership successfully held in Beijing in November. China welcomed the strong participation of the EU in Shanghai Expo 2010.

23. Leaders praised the fruitful exchanges and cooperation between China and the EU in a wide range of areas such as science and technology, people-to-people contacts, education, culture, customs, health and emergency management. Leaders welcomed with satisfaction the signing of the agreements and memoranda of cooperation (Annex 1).

24. The two sides agreed to strengthen exchanges and cooperation in various fields and decided:

—to deepen customs cooperation, with a view to promoting and facilitating bilateral trade in the face of the current economic crisis and slowdown of international trade, to seek steady progress in implementing the action plan on IPR customs enforcement, to seek agreement by the China -EC Joint Customs Co-operation Committee in the second phase of the pilot project on Smart and Secure Trade Lane, and to strengthen the cooperation on the mutual recognition of Authorized Economic Operator (AEO);

—to strengthen China-EU statistical cooperation in areas mutually considered as priorities on the basis of a dialogue on statistical methods and practices;

—to further strengthen closer and structured cooperation on industrial product safety, WTO/TBT, consumer product safety, SPS and food safety, so as to protect public health, enhance the confidence of citizens and promote trade;

—to further enhance cooperation in civil aviation including the adaptation of air services agreements between China and EU Member States as well as strengthening cooperation in aviation safety, security, environment, economic regulation and air traffic management;

—to further strengthen exchanges and cooperation on the basis of the existing good cultural relations, continuously conduct China-EU cultural policy dialogue, and work closely together to push for the implementation of the Convention on the Protection and Promotion of the Diversity of Cultural Expressions;

—to further push forward the dialogue mechanism on educational policy, to strengthen their support for high-level talent cultivation, joint research, teaching and training in the languages of their respective country/region, academic staff and student exchange, and to make every effort to increase substantially the number of student exchanges in both directions;

—to further promote and deepen partnership between China and Europe by launching 2011 as the China-Europe Year of Youth;

—to support the continued constructive dialogue between the China Economic and Social Council (CESC) and the European Economic and Social Committee (EESC);

—and to strengthen high-level dialogue and exchanges between think-tanks from both sides, and to promote and support regular exchanges.

25. The EU expressed gratitude to the Jiangsu Province for hosting the summit. Leaders supported the large and growing exchanges between different regions of China and the EU, including the Jiangsu Province.

Annex:

Agreements and memoranda signed at the 12th China-EU Summit, Nanjing, 30 November 2009

The renewal of the Science and Technology Agreement

The Memorandum of Understanding Launching Phase II of the Near Zero

Emission Coal Project

The Memorandum of Understanding on Consultation and Cooperation Mechanism on Industrial Sectors

The Memorandum of Understanding on Cooperation Framework on Energy Performance and Quality in the Construction Sector

The Financing Agreement for the EU-China Environmental Governance Programme

The Financing Agreement of the New Trade Project "Support to China's Sustainable Trade and Investment System"

Source: www.fmprc.gov.cn