nsfer, the full text of the deal reveals.
According to the text, in the event of a trade dispute, either side can request the establishment of an arbitration panel. If China were the complainant, the hearing would be in Brussels, and if the EU had a gripe the hearing would be in Beijing, it said. On the former, the two sides agreed that SOEs should make decisions based solely on commercial considerations, while on the latter, they said the transfer or licensing of technology must be based on market terms and regulatory regimes should be impartial, according to the documents.
Zhang Monan, chief researcher on American and European studies at the China Centre for International Economic Exchanges in Beijing, said the deal was a demonstration of intent.About 28 per cent of the EU's investment in China is in the automotive sector, followed by 22 per cent in basic materials and chemicals, 9 per cent in financial services, 7 per cent in consumer products and 5 per cent in energy, according to the fact sheet released by the EU delegation to China.