negotiations were launched in 2010, the list is a very modest outcome, and regrets the lack of progress in this regard; calls for an early conclusion of negotiations and urges both parties to consider the opportunity of the upcoming EU-PRC Summit as a good occasion to score effective progress to this end; reiterates the need to cooperate further in the field of sanitary and phytosanitary (SPS) measures in order to reduce burdens on EU exporters; 41. Welcomes China’s decision to delay by one year the implementation of new certifications for imported food and drink, which would have dramatically reduced food imports from the EU; welcomes, moreover, the delay in implementation of new standards for electric vehicles and calls for substantive dialogue and increased coordination regarding such initiatives; 42. Recommends that the EU and the Chinese Government launch a joint initiative within the G20 to establish a Global Forum on Aluminium Excess Capacity, with a mandate to address the entire value chain of the bauxite, alumina and aluminium industry, including raw material prices and environmental aspects; 43. Calls on the Commission to actively monitor the Chinese trade distortion measures, which are affecting EU companies’ positions in global markets, and to take appropriate action in the WTO and other fora, including through dispute settlement; 44. Notes that a new Chinese foreign investment law is in the process of being drafted; urges the Chinese parties concerned to strive for transparency, accountability, predictability and legal certainty, and to take into account the proposals and expectations of the current EUChina dialogue on the trade and investment relationship; 45. Express concerns about the new cybersecurity law, which includes, inter alia, new regulatory barriers for foreign companies that sell telecommunications and IT equipment and services; regrets the fact that such recently adopted measures, together with the establishment of Chinese Communist Party groups within private companies, including foreign firms, and measures such as the NGO law, make the overall business environment in the PRC more hostile for foreign and private economic operators; 46. Notes that in 2016 the PRC’s banking system surpassed that of the euro area as the world’s largest; calls on the PRC to allow foreign banking enterprises to compete on an equal footing with domestic institutions and to cooperate with the EU in the area of financial regulation; welcomes the PRC’s decision to reduce tariffs on 187 consumer goods and the removal of foreign ownership caps for banks; 47. Recalls its 2015 report on relations between the EU and the PRC, in which it called for the launch of negotiations for a bilateral investment agreement with Taiwan; points out that the Commission has on more than one occasion announced the launch of negotiations on investment with Hong Kong and Taiwan, but deems it regrettable that no such negotiations have actually begun; reiterates its support for a bilateral investment agreement with Taiwan and Hong Kong; recognises that both partners could also act as a springboard to mainland China for EU businesses; 48. Calls on the Commission to coordinate with the Member States and under the consultation of Parliament to formulate a unified European position and common economic strategy towards the PRC; calls on all Member States to consistently adhere to this strategy;