China issued a policy paper on the European Union on Dec 18 in which it pledges to work with the bloc to promote and practice multilateralism.

China is willing to strengthen dialogue and coordination with the EU at bilateral, regional and global levels to push for more open, inclusive and balanced economic globalization, the paper said.

It also said that China stands ready to work with the EU to support the international community in formulating and improving fair, equitable and just rules and standards to ensure that all parties engage in decision-making as equals.

The document, the third of its kind produced by the Chinese government, elaborates the country’s policy goals regarding the EU. It is meant to enhance bilateral communication and cooperation in various areas, Foreign Ministry spokeswoman Hua Chunying said at a regular news briefing. The previous two papers were issued in 2003 and 2014.

China attaches importance to the EU’s role and influence in regional and international affairs, Hua said, adding that developing a sound relationship with the bloc has always been a priority of China’s diplomacy.

The EU has been China’s largest trading partner for 14 consecutive years and China is the EU’s second-largest trading partner.

This year marks the 15th anniversary of the China-EU Comprehensive Strategic Partnership and the 20th anniversary of the China-EU Summit. President Xi Jinping has just concluded state visits to Spain and Portugal, two members of the bloc.

The relationship between China and the EU is facing new circumstances as well as opportunities for further development, Hua said.

She added that China hopes to deepen and expand all-around cooperation with the EU and promote greater development of bilateral ties, she said.

According to the paper, China hopes Britain’s exit from the EU will be orderly, and it would like to advance China-EU and China-UK relations in parallel.

China will expand the importation of high-quality goods from the EU, and the EU should ease its high-tech export controls on China, the paper said.

China will significantly ease market access, and hopes that the EU will keep its investment market open and provide Chinese companies investing in Europe a fair, transparent and predictable policy environment.