China announces contribution to the Investment Plan for Europe and a milestone agreement with the EU on 5G

Today, Vice-President Katainen, Commissioner Oettinger and Commissioner Bulc are in Beijing for a High-level Economic and trade Dialogue (HED) with the Chinese government. This continues the strategic engagement on economic, trade and investment issues from the EU-China Summit, which was held in Brussels on 29 June. At the HED today, Chinese Vice-Premier Ma Kai informed Vice-President Katainen that China will contribute to investments in the context of the €315 billion Investment Plan for Europe. China is the first non-EU country to announce a contribution to the Plan. As well as this announcement, the two sides agreed to set up a joint working group to increase cooperation between the EU and China on all aspects of investment. Also at the HED, the EU and China signed a milestone agreement in the global race to develop 5G networks.