STORY: European Commission President Ursula von der Leyen called for an "essential" rebalancing of trade ties with China during a tense summit on Thursday (July 24) with President Xi Jinping, saying ties stood at an "inflection point," according to a pool report.

Expectations were low for the summit marking 50 years of diplomatic ties after weeks of escalating tension and wrangling over its format, with the duration abruptly halved to a single day at Beijing's request.

Von der Leyen and European Council President Antonio Costa met Xi at the start of an event set to be dominated by thorny issues ranging from trade frictions to the Ukraine war.

"As our cooperation has deepened, so have imbalances. We have reached an inflection point," von der Leyen told Xi during the meeting in the Great Hall of the People.

She was referring to the EU's trade deficit with China, which ballooned to a historic 305.8 billion euros ($360 billion) last year.

"Rebalancing of our bilateral relation is essential ... It is vital for China and Europe to acknowledge our respective concerns and come forward with real solutions."

However, Xi urged the EU to "make correct strategic choices" during the meeting, state broadcaster CCTV said, in a veiled criticism of Brussels' hawkish stance on China.

"The more severe and complex the international situation, the more China and the EU must strengthen communication, enhance mutual trust and deepen cooperation," Xi told von der Leyen and Costa, it said.

DESCRIPCIÓN DE IMÁGENES

VIDEO SHOWS: EUROPEAN COMMISSION PRESIDENT URSULA VON DER LEYEN AND EUROPEAN COUNCIL PRESIDENT ANTONIO COSTA MEETING CHINESE PRESIDENT XI JINPING IN BEIJING

RESENDING WITH COMPLETE SCRIPT

SHOWS: BEIJING, CHINA (JULY 24, 2025) (REUTERS - Access all)

1. EUROPEAN COMMISSION PRESIDENT URSULA VON DER LEYEN AND EUROPEAN COUNCIL PRESIDENT ANTONIO COSTA WALKING INSIDE GREAT HALL OF PEOPLE

2. VON DER LEYEN AND COSTA WAITING AT MEETING ROOM

3. CHINA AND EU LEADERS SEATED FOR MEETING

4. CHINESE PRESIDENT XI JINPING AND FOREIGN MINISTER WANG YI IN MEETING

5. (SOUNDBITE) (Mandarin) CHINESE PRESIDENT, XI JINPING, SAYING:

"The more complex and challenging the international situation becomes, the more China and Europe need to strengthen communication, enhance mutual trust, and deepen cooperation, so as to contribute greater stability and certainty to the world through a steady and healthy China-Europe relationship."

6. VON DER LEYEN AND COSTA LISTENING

7. MEETING IN PROGRESS

8. COSTA SPEAKING

9. EU AND CHINESE FLAGS

10. (SOUNDBITE) (English) EUROPEAN COMMISSION PRESIDENT, URSULA VON DER LEYEN, SAYING:

"Our relationship is one of the most important and consequential in the world. In fact, in terms of total trade, the European Union is China's largest trading partner. China is the EU's third of bilateral trade and goods now exceeds two billion euros per day. Europe has supported China's economic developments for decades and continues to do so."

11. XI LISTENING

12. (SOUNDBITE) (English) EUROPEAN COMMISSION PRESIDENT, URSULA VON DER LEYEN, SAYING:

"As our cooperation has deepened, so have imbalances. We have reached an inflection point. Rebalancing of our bilateral relation is essential, because to be sustainable, the relations need to be mutually beneficial. And to achieve this, it is vital for China and Europe to acknowledge our respective concerns and come forward with real solutions."

13. VON DER LEYEN SPEAKING

14. MEETING IN PROGRESS