China and the European Union have issued a joint call to action on climate change during a tense summit in Beijing.

Chinese leader Xi Jinping urged the European Union to make “the right strategic choice” and enhance cooperation with China, while EU leaders called for a rebalancing of trade ties, as the two sides tackle deep-seated grievances at a tense summit in Beijing.

China is a "critical partner" to Europe with a range of shared interests, state news agency Xinhua said in a commentary piece, downplaying Beijing's rivalry with the European Union bloc hours before a key summit between leaders of both sides on Thursday.

"The biggest piece in the trade deal puzzle still remains, and the Chinese are unlikely to be as willing to fold."

The US and the EU have a trade deal and public companies are loading up on cryptocurrencies. Plus, a US rival is stepping in to fill a new void at the United Nations. Mercedes Ruehl China is in a very good position to take advantage of these huge reforms going on. Jess Smith I’m Jess Smith and here’s the news you need to start your day.

In May EU leaders said they were ready to “work hand in hand” with China to deal with “common challenges”. But the Europeans’ short-lived friendliness was as much an attempt to manipulate the Americans as it was a bid to woo the Chinese,

Beijing is betting that economic pressure and diplomatic defiance will force concessions, but its stance could put more strain on its ties with Europe at a crucial time.

Finally, the halt of U.S. LNG exports to China threatens long-term contracts worth 20 million tons per year with U.S. suppliers. Chinese LNG buyers are now reselling U.S. cargoes to Europe and also seeking new deals with Asia-Pacific and Middle Eastern suppliers, undermining U.S. export growth.

Half a century after the establishment of relations between China and the EU, and against a backdrop of deteriorating transatlantic relations, the European Union and China held their 25th summit in Beijing.

A joint statement promised new efforts to cut emissions at a time when China is positioning itself as the world’s one-stop shop for clean energy technologies.