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International relations

China and EU reach investment deal, but risk friction with US

Broad agreement addresses long-standing concerns, Biden camp warns against haste

Chinese President Xi Jinping, top left, and European leaders attend a videoconference Dec. 30 on the investment deal.   © Reuters

BRUSSELS/BEIJING -- China and the European Union struck a sweeping agreement Wednesday on an investment pact that will deepen ties between the world's second- and third-largest economies, despite a warning from the incoming U.S. administration over rushing into a deal.

The two sides wrapped up talks on the broad outlines of the Comprehensive Agreement on Investment in a video meeting attended by Chinese President Xi Jinping, European Council President Charles Michel, European Commission President Ursula von der Leyen, German Chancellor Angela Merkel and French President Emmanuel Macron.

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