Strengthening Ties: China and ECB Collaborate Amid Global Trade Tensions

In a bid to strengthen global economic ties, China is set to enhance cooperation with the European Central Bank (ECB), focusing on reforming the international monetary system. This decision emerged from a meeting in Beijing between Chinese Premier Li Qiang and ECB President Christine Lagarde, who is on a rare visit to China.

The meeting comes at a time when both China and the European Union face significant trade tensions with the United States, following tariff policies implemented by President Donald Trump. Li emphasized the importance of cooperation in overcoming resistance to globalization, suggesting that such collaboration could yield mutual benefits.

During her visit, Lagarde also met with China's central bank governor, Pan Gongsheng. The discussions resulted in a memorandum of understanding on cooperation and an agreement to establish annual meetings between the central banks' governors. Both parties aim to ease friction in trade ties and address ongoing tariff disputes.

(With inputs from agencies.)