China and the European Union concluded their fourth high-level trade talks in Brussels last week. They were the first high-level trade dialogue between the two sides since China's new leadership took office in March.

A People's Daily commentary on Tuesday stressed that the two sides have reached important consensuses during the talks, and have sent a positive signal that China and the EU are committed to deepening and broadening their trade and economic cooperation.

At present, the daily trade volume between China and the EU is $1.5 billion, but European Council President Herman Van Rompuy once referred to the two economies as being mutually in need of each other and inseparable, and a spirit of cooperation featuring mutual respect, reciprocity and a win-win outcome is indispensable if their trade ties are to grow as desired.