Lucinda Creighton (Dublin South East, Fine Gael)

The EU fully recognises the challenges it faces to defend its interests and promote its values in a fast changing world, where countries such as China, India and Brazil have emerged as increasingly influential global players. Over the past year, EU High Representative Catherine Ashton has been developing a framework to enable the EU to strengthen its internal coherence in order to engage more effectively with its main strategic partners, taking full advantage of the Lisbon treaty instruments. In particular the European External Action Service is central to the new approach to strategic partners, which involves fewer priorities, greater coherence and a sharper focus on results.

The practice of having all 27 member states voicing common messages in bilateral contacts with partners is important in helping to project the EU as a unitary force. The commercial investment decisions of individual member states do not undermine the efforts of the EU as a collective to pursue its core objectives with international partners. China's size, economic clout and political weight makes it a key strategic partner of the European Union. It is the world's second largest economy and the biggest exporter of manufactured goods.

Trade between the EU and China has risen dramatically in the last decade and the EU is now China's largest trading partner. Strengthening relations with China is a priority of the EU as China offers immense potential for co-operation in the trade, energy, security and development sectors. The partnership is increasingly focused on addressing global challenges in which the EU and China can play a key role in devising effective international responses. In this respect, EU-China relations go beyond a bilateral framework and take on a global dimension. As with all partnerships, it is not without its differences, most notably in the area of trade and investment; the EU is seeking improved market access, a better environment for investment, more effective enforcement of intellectual property rights and the opening up of public procurement. The rule of law and human rights are also important elements in the ongoing dialogue with China.

The EU-China relationship is more important than ever in the current financial and economic climate. The EU welcomes China's emergence as a global power and recognises the considerable contribution it has made to global economic growth. China's dynamic economic growth benefits the EU. The significant investment by China and other countries in Europe is welcome. It demonstrates confidence in the European economy and in Europe's capacity to emerge from its current economic difficulties.

The purchase by China of government bonds is a matter between China and the individual relevant member states.

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