China Blow to Beijing: European Parliament now votes to freeze EU-China investment deal
Brussels: The European Parliament has voted to freeze the ratification of the EU-China investment deal due to the sanctions that Beijing has imposed on five members of the hemicycle, an episode seen as a blow to the dragons, media reports said.
In a strongly-worded resolution passed on Thursday afternoon, the Parliament also deplores what it calls the "crimes against humanity" that are taking place against the Uyghur Muslim minority in the Xinjiang region and the crackdown on the democratic opposition in Hong Kong, reports Euro News.
The latest development represents a new blow to the EU-China Comprehensive Agreement on Investment (CAI) that European leaders reached during a video call with Chinese President Xi Jinping less than five months ago, reports the news portal.
The agreement's main goal is to increase market access and ensure fair treatment for EU investors and companies doing business in China. The text wants to create a so-called level playing field and contains provisions on state-owned enterprises and subsidies, the new portal reported.
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