(Yicai Global) June 26 -- China and the European Union have committed to liberalize investment and trade at their scheduled meeting on Monday, while the EU representative raised issues such as China's risks for steel and aluminum overcapacity and allegedly compromised intellectual property rights.

China's Vice-Premier Liu He and Jyrki Katainen, European Commission's vice-president for jobs, growth, investment, and competitiveness, discussed "difficult issues" such as state subsidies, forced tech transfers, and cybersecurity during the seventh EU-China High-level Economic Dialogue in Bejing.

Liu focused on the hot topic of trade unilateralism, popularized by last weeks of tariff threats between China and the US. "Both sides believe that we must resolutely oppose unilateralism and trade protectionism and prevent such behavior from causing volatility and recession in the global economy," Liu told a media briefing after the talks.

The EU's and China's planned exchange of market access offers in investment talks is a step closer to reaching an agreement, Katainen said in a news conference following the meeting.

The most urgent task facing China is to promote the negotiation of bilateral investment agreements between China and the EU, Tu Xinquan, dean of the China WTO Research Institute at the University of International Business and Economics, told Yicai Global.

One of the specific topics under discussion was expanding market access for certain meat products such as beef and poultry.

The pair agreed to make joint efforts to accelerate China's accession to the World Trade Organization's Government Procurement Agreement, which would ease China's access to international suppliers. The two entities also decided to pen the Memorandum of Understanding on the Circular Economy during their next encounter at the China-EU Summit likely to be held in July in the Asian counterpart.

Editor: Emmi Laine