Sino-EU talks to open door to free-trade pact

The European Union is preparing to hold talks next week with China on easing business relations, leaving room to discuss a free-trade pact, Reuters reported, citing EU officials. Brussels and Beijing want to encourage billions of euros of new investment between the EU and China. Last year, the EU became China’s biggest trade partner with trade between the two economies growing to US$580 billion. Trade has doubled since 2003 between the two to over US$1.3 billion per day but China receives just 2% of the EU’s investment abroad.