China's Premier Li: Cooperation outweighs competition between China and EU

The cooperation outweighs the competition between China and the European Union, China's Premier Li Keqiang told the state media on Monday, as reported by Reuters.

"China, Europe should enhance macroeconomic policy coordination," Li added and noted that he hopes the EU will relax export control measures against China. "China is willing to deepen cooperation on COVID-19 vaccine and treatment development with Europe to fight against virus pandemic."

Market reaction

These comments failed to provide a boost to market sentiment. As of writing, the Euro Stoxx 50 Index was last seen losing 0.75% on a daily basis at 3,245 points and Germany's DAX 30 was down 0.43% at 12,277 points.