China Offers EU Talks on Trade Imbalances as Deficit Hits €360 Billion
Finance Minister Lan Foan told EU officials in Bangkok that Beijing is ready to coordinate macroeconomic policy, a week after a deal limiting Chinese hybrid car exports.
BEIJING, Oct 16 (Reuters) - China is ready for dialogue with the European Union to improve communication on aspects of global economic governance and macro policy coordination, its finance minister told key bloc officials in Bangkok on Friday.
Finance Minister Lan Foan made the remarks in a meeting with Valdis Dombrovskis, the EU economy and productivity commissioner, Christine Lagarde, the president of the European Central Bank and Kyriakos Pierrakakis, the Eurogroup president.
Global imbalance was a "complex economic structural issue" that was increasingly influenced by non-economic factors such as geopolitics and protectionism, Lan said, according to a statement from his ministry.
"All parties should view imbalances comprehensively, objectively," Lan added, urging open cooperation and coordination of macroeconomic policies, it said.
Friday's meeting comes a week after a deal struck by China and the European Union to limit Chinese exports of hybrid cars to the bloc. The EU seeks to shrink its trade deficit with China that ballooned to €360 billion ($400 billion) in 2025.
(Reporting by Liz Lee and Qiaoyi Li; Editing by Jacqueline Wong newsroom;)
