On September 20, 2012, Premier Wen Jiabao of the State Council, together with European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso, attended the eighth China-EU Business Summit in Brussels. At the summit Premier Wen delivered an address entitled "Building a Model of International Cooperation in the 21st Century".

Premier Wen said in his address that the China-EU relationship is among the most important ones in the world and is also a strategic priority in China's foreign policy. Carefully nurtured by both sides, the China-EU comprehensive strategic partnership has become increasingly mature, with richer connotations; great benefits have been reaped in all fields of their cooperation. Economic and trade cooperation is the most dynamic and fruitful part of the China-EU relationship. In 2003, two-way trade was just over 100 billion U.S. dollars; in 2011, it reached 567.2 billion U.S. dollars, registering an average annual growth of 20.8 percent over the period. The EU has been China's largest trading partner for eight consecutive years, while China is the EU's second-largest trading partner. The total investment EU enterprises have made in China so far has reached over 80 billion U.S. dollars, and Chinese enterprises' investment in the EU has grown from a little over 100 million U.S. dollars in 2003 to 4.3 billion U.S. dollars in 2011. Meanwhile, the EU is China's largest source of technology imports; contracts in this field have aggregated 150 billion dollars. People-to-people exchanges have also become increasingly frequent; nearly 2 million Chinese went to Europe in 2011 for tourism and study, a fivefold increase since 2003.

Reviewing the development of China-EU relations in the past ten years, Wen came up with five conclusions about the bilateral ties: First, the core of the China-EU relationship lies in the strategic dimension. Second, the development of bilateral ties can bring tangible benefits to both sides. Third, China-EU relations have ramifications well beyond the bilateral level and are of growing global significance. Fourth, China and the EU can properly resolve their disputes through negotiations. Fifth, a future-oriented bilateral relationship has a great prospect.

Premier Wen noted that the China-EU relationship is currently faced with both opportunities and challenges. It has entered an important stage in which both sides should build on past achievements and push for closer future cooperation. China and the EU should make long- and intermediate-term plans for pragmatic cooperation, further promote two-way trade and investment, deepen collaboration in infrastructure, technological innovation and urbanization, and strengthen people-to-people and cultural exchanges, so as to achieve more comprehensive, in-depth and balanced development of trade and economic relations.

China is a responsible long-term investor, and will continue to help overcome the EU's debt crisis through appropriate means, Wen said. In addition, the premier expressed his confidence that, with a strong economy and advanced technologies, the EU has the ability and wisdom to properly handle the debt issue and revitalize itself. Just as China needs the EU in its development, the EU also needs China for its own development. China is ready to share opportunities with European countries and work with them to meet common challenges and turn the China-EU comprehensive strategic partnership into a model of international cooperation in the 21st century.

Co-sponsored by the Chinese Ministry of Commerce and European Commission, the eighth China-EU Business Summit brought together over 500 high-level officials and business people from both sides.