BEIJING (Xinhua) -- During their ninth high-level economic and trade dialogue on Tuesday, China and the European Union agreed to make joint efforts to enhance practical cooperation in the field of economy and trade, and to address the challenges facing the global economy.

The dialogue, held via video link, was co-chaired by Chinese Vice Premier Liu He and Executive Vice President of the European Commission Valdis Dombrovskis.

The two sides held pragmatic, frank and effective discussions on four topics, namely macroeconomics, industrial and supply chain, trade and investment, and financial cooperation.

The two sides reached a series of results and consensuses on macroeconomic policy coordination, industrial and supply chain cooperation, WTO reform, wider market opening, implementation of the China-EU Geographical Indications Agreement, animal and plant inspection and quarantine, and mutual opening up of the financial sector. and organizational cooperation.

The two sides believe that the political and economic situation in the world is undergoing profound changes, and that healthy and stable relations between China and the European Union, and economic and trade relations between China and the European Union, are conducive to global development and prosperity.

The two sides expressed their willingness to make joint efforts to enhance mutual understanding, support practical cooperation between China and Europe in the economic and trade field, and enhance the stability of cooperation between China and the European Union, to better deal with the uncertainty of the global economic situation.

The two sides expressed their readiness to jointly address the challenges facing the global economy, enhance communication and coordination on macroeconomic policies, maintain the stability of global industrial and supply chains, and protect and strengthen the rules-based pluralistic trading system with the World Trade Organization at the heart.

They also agreed to make active efforts to liberalize and facilitate trade and investment, promote fair competition, protect intellectual property rights, create a better business environment for enterprises, and promote mutual opening-up and regulatory cooperation in the financial sector.