BEIJING - China and the European Union (EU) will hold their 16th summit in Beijing later this month to outline cooperation for the next five to ten years and upgrade their relationship.

Chinese Premier Li Keqiang will launch the summit with European leaders on November 21, Foreign Ministry spokesman Qin Gang said at a daily news briefing on Monday.

Chinese President Xi Jinping will meet with European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso, who will be in China for the summit.

"The summit, coinciding with the 10th anniversary of our comprehensive strategic partnership, will map out the direction for cooperation for the next five to ten years to upgrade the relationship," Qin said.

Initiated in 1998, the summit is the highest-ranking dialogue platform between China and the EU.