China surpasses the U.S. as the EU's largest trading partner

        OES learned that according to data released by Eurostat on September 16, the total import and export volume of the 27 EU member states and China in the first seven months of 2020 was 328.7 billion euros, an increase of 2.6%. For the first time, China became the largest trading partner of the European Union, surpassing the trade volume between Europe and the United States by EUR 5.2 billion. At the same time, China maintained its position as the EU's largest source of imports and the third largest export market, accounting for 21.9% and 10.3% respectively.

　　 News shows that from January to July, EU imports from China increased by 4.9% year-on-year, imports from the United States fell 11.7%, exports to China fell 1.8%, and exports to the United States fell 9.9%.

　　According to Chinese customs statistics, China has become the EU's largest source of imports since 2006. The "China-EU Geographical Indications Agreement" recently signed by China and the EU includes 100 local products protected by geographical indications in China and the European Union each in the scope of protection. Up to now, the two sides have included a total of 550 (275 each) geographical indication products. You can eat European specialties and assured foods in China. Similarly, you can also enjoy original Chinese local famous products in Europe.

　　 A few days ago, China and Europe signed the "China-EU Geographical Indications Agreement" and included each other’s products on the protection list, which will bring significant help to China-EU trade. According to statistics, the bilateral trade volume between China and Europe has soared 250 times in the past 40 years. If China and Europe can continue to maintain this good trend, then Eurasia can definitely become the "center of the future world economy."

　　 News shows that the reason why China-EU trade will be so smooth this year is that the China-EU Railway has played a major role. In August this year, a total of 1,247 China-Europe freight trains operated, transporting as many as 113,000 TEUs, an increase of 62%. With the help of China-Europe Railway, trade between China and Europe has become much easier.