On Tuesday, the European Union and China had trade and economic discussions via video conferencing in which supply chains and central bank digital currencies (CBDC) featured. However, the politically independent European Central Bank (ECB) has responsibility for a CBDC and they were not a participant.
The tone of the announcements from each side was a little different. The EU emphasized the need for reciprocity and access to China’s market, which was mentioned by European Commission EVP for the Economy, Valdis Dombrovskis and Commissioner for Trade, Phil Hogan.
The meeting was attended by Chinese Politburo member and Vice Premier of the State Council Liu He, joined by several Chinese deputy ministers. The Chinese announcement stated that “both parties are committed to continuing to promote the internationalization of the euro and the renminbi.”