China hopes for an “orderly” Brexit : Foreign Ministry Report

"China hopes to see Brexit proceed in an orderly fashion and stands ready to advance China-EU and China-UK relations in parallel," the ministry said in the policy document.

Source: Bloomberg

China hopes Britain’s divorce from the European Union (EU) can occur “orderly”, adding that the country is ready to advance trade relations with the United Kingdom (UK), China’s Foreign Ministry said in a long policy document on European Union ties on Tuesday.

"China hopes to see Brexit proceed in an orderly fashion and stands ready to advance China-EU and China-UK relations in parallel," the ministry said in the policy document.

Beijing has been looking at reaching a free trade deal agreement with the UK post-Brexit.

The UK is currently still caught in a conundrum on its Brexit plans. The country’s Prime Minister Theresa May had pulled a vote on Brexit in Parliament ahead of voting day last week over fears that British Members of Parliament would not support the deal in its current form.

European Commission President Jean-Claude Juncker has made it clear to Mrs May that the EU will not renegotiate her Brexit deal, calling the existing deal on the table “the only deal possible”.

China hopes for EU to ease on its ‘unfair restrictions’

EU is China’s largest trading partner, and China is its second largest trading partner. China said in its report it wishes for the EU to ease on high-tech export controls on China and facilitate mutual investments.

China has been calling out on the EU on situations which it thinks are unfair restrictions on Chinese investments. Likewise, the EU has been pushing for its firms a better access to the Chinese market.

"China hopes that the EU will keep its investment market open, reduce and eliminate investment hurdles and discriminatory barriers, and provide Chinese companies investing in Europe a fair, transparent and predictable policy environment and protect their legitimate rights and interests," the report noted.

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