The EU and China are set to announce a long-awaited investment treaty, in a move that is aimed at opening up lucrative new corporate opportunities but risks antagonising president-elect Joe Biden’s incoming US administration.
The draft accord awaits confirmation by European Commission president Ursula von der Leyen and the Chinese leadership on Wednesday, European officials said — a moment that would finally bring seven years of often difficult negotiations to a successful close.
But the accord may create friction with the incoming Biden administration in the US, which has stressed the need for transatlantic co-operation to put pressure on Beijing. Rights activists will also scrutinise the deal closely over allegations that China uses Uighur Muslims detained in large numbers in Xinjiang province as forced labour. Beijing denies the claims.