This year marks the 40th anniversary of China-EU diplomatic relations. Schulz told the audience in the lecture on Wednesday that China-EU relations are already on a positive track and have great potential.

To fulfill the potential, China and the EU both have invested a lot in bilateral trade relations over the last few years and these efforts are bearing fruits. China is now the second largest trading partner of EU, right after the United States. At the same time, the EU is China's biggest trading partner. "Every single day, China and EU trade one billion euros," Schulz said.

However, the majority of trade between China and the EU is in goods. Schulz hopes to step up the proportion of services and investments with a comprehensive bilateral investment agreement.

China and EU launched negotiations on the Comprehensive Agreement on Investment at the end of 2013. Four rounds of talks have already been completed by far.

Also in the lecture, Schulz emphasized that both the EU and China face the same challenges like sustainable growth, aging populations, climate change, the threat of international terrorism, nuclear proliferation and epidemics. None of these problems can be solved by one player alone, even it is as powerful as the United States.

"China and the EU need each other today more than ever to solve problems together. And China's active and constructive role is necessary in all questions of global governance. Many interesting global affairs tie us together even more closely," Schulz said.

Schulz kicked off his three day official visit to China on March 16. He is the first EU leader to visit China after the change of EU leadership.

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