The Beijing summit saw the European Union and China reaffirming their climate change commitments, but showed no progress on issues such as trade disputes and Russia's war in Ukraine, the Associated Press reported.
Both sides reaffirmed their commitment to the Paris Agreement and called for bold steps at COP30 climate summit in Brazil, according to the report.
However, there was barely any movement on the major issues of trade, electric vehicles or Russia, AP cited Rhodium Group analyst Noah Barkin as saying, adding that the EU will likely use more trade defense tools in the following months.
European Commission President Ursula von der Leyen said the EU and China reached an "inflection point," adding that relations need to be mutually beneficial to be sustainable.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)