China and the European Union plan to hold their 25th summit next Thursday in Beijing

China confirmed that top European Union leaders will visit China on Thursday for a summit to discuss resolving a series of trade disputes between the two major partners.

“In accordance with the agreement between China and the European Union, European Council President António Costa and European Commission President Ursula von der Leyen will visit China on July 24,” the Chinese Foreign Ministry said in a statement on Monday.

The Chinese Foreign Ministry added, “President Xi Jinping will meet with them… Premier Li Keqiang will co-chair the 25th China-EU summit with the two European leaders”.

The summit coincides with the 50th anniversary of diplomatic relations between Beijing and Brussels, but comes after the two sides exchanged criticisms of what each considers a violation of fair-trade principles.

Costa said in a statement on Friday that the summit is “an opportunity to engage with China at the highest level and hold frank and constructive discussions on issues that concern us all”.

He added, “We want dialogue, real interaction, and tangible progress… We aim for a fair and balanced relationship that achieves the interests of both parties”.

Von der Leyen said this month that the EU would seek to rebalance its economic relations with Beijing by demanding that it facilitate access for European companies to its markets and ease export controls on rare earths.

The Chinese Foreign Ministry responded by urging the EU to properly handle differences and frictions, and build a more objective and rational understanding of China.

Last week, Brussels announced a new package of sanctions targeting Russian oil exports and its banking sector, as well as some Chinese companies and financial institutions.

The Chinese Ministry of Commerce criticized the sanctions, describing them as wrong.