Overview

• Von der Leyen said the summit will focus on rebalancing China’s chronic trade deficit and curbing its subsidized industrial overcapacity.
• She accused Beijing of using overcapacity to flood global markets and of running the largest trade surplus ever recorded.
• The EU will demand that China loosen export restrictions on rare earths and will accelerate development of alternative supply chains.
• Brussels will press for fairer market access for European firms under its new investment screening and anti-subsidy rules.
• The one-day summit in Beijing on July 24 will be chaired by Premier Li Qiang in Xi Jinping’s absence as the EU marks 50 years of diplomatic relations.