Last year, the EU was China's biggest trading partner, and China was the EU's second-largest trading partner.

The meeting was held after the virtual 22nd China-European Union leaders' meeting, co-chaired by Premier Li Keqiang and Michel and von der Leyen via videoconference.

Li said the two sides must work toward reaching a comprehensive, balanced and high-level investment agreement before the end of this year and enable the signing of bilateral agreement on geographical indications on products' origins.

The two EU leaders voiced their hope that talks on the EU-China Comprehensive Agreement on Investment can be concluded this year as scheduled, and that the two sides can bolster cooperation in areas such as connectivity, trade, investment and the digital economy.

They said the COVID-19 pandemic has not weakened either of the two sides' intentions to work together and the two sides have supported each other and shown solidarity during the coronavirus response. The EU is willing to bolster cooperation on economic recovery with China and further open up markets while jointly upholding multilateralism and free trade, they said.