Europe has finalized an investment agreement with China that is designed to rebalance trade with the world's
second largest economy, despite US concerns that the deal could be counterproductive. Brussels and Beijing have been negotiating the Comprehensive Agreement on Investment for seven years, but talks gathered pace in recent months ahead of a joint deadline that had been established for the end of 2020.
Negotiations were completed on Wednesday during a video conference with Chinese President Xi Jinping and EU officials, according to a statement from the European Commission.
"The European Union has the largest single market in the world. We are open for business but we are attached to reciprocity, level playing field and values," European Commission President Ursula von der Leyen said on Twitter.
