and highlights the urgent need to boost the resilience of European supply chains; calls for efforts to diversify and consolidate the EU’s access to the key strategic resources needed to power the EU’s twin engines of growth, with a particular emphasis on the 30 elements included in the fourth, updated list of critical raw materials in 2020; recalls the overall EU objective to build its open strategic autonomy under the common commercial policy; reiterates the increasing significance of the trade-security nexus in the EU’s international trade policy; 46. Calls for greater transparency, coherence and coordination between the Member States on matters related to bilateral investment projects and deals, particularly on foreign direct investment (FDI) in strategic assets and critical infrastructure; draws attention to the links between economic dependencies and external political leverage at the level of the Member States; recalls the importance of strengthening the EU FDI Screening Regulation in the future in order to make sure that any potential investments that could pose a threat to the EU’s security and public order, in particular by state-controlled enterprises, are blocked; calls on the Member States to urgently adopt a national screening mechanism if they do not have one yet, in line with the Commission guidance from March 2020; 47. Is convinced that the EU-China bilateral trade and investment relationship is of strategic importance and should be rules-based, with the multilateral trading system and the principle of reciprocity at its core; reiterates that while there are concerning trends towards economic decoupling, a more assertive enforcement of and adherence to commitments is necessary in the overall trade and investment relationship; calls on China to play a more active and responsible part in the WTO and other multilateral initiatives, matching its economic power with its level of development, and to fully adhere to all of its WTO and international obligations; calls on the Commission and the Chinese authorities to cooperate closely to reform the WTO rulebook in order to foster a more sustainable development, promote the green transition and digital revolution, and bring stability and legal certainty to the international trade arena; 48. Is concerned about the increasingly unbalanced bilateral economic and trade relationship between the EU and China; stresses that rebalancing and a more level playing field are vital to EU interests; believes that China and the EU must build a level playing field and forge a fruitful relationship in spite of the differences between their respective economic systems; highlights, in this regard, the EU’s ongoing work in strengthening its trade toolbox, while recognising the need to maintain an open dialogue on common challenges such as the global fight against climate change; stresses the urgent need for the EU to complete its range of autonomous measures including a more stringent EU FDI Screening Regulation, legislation on foreign subsidies that distort the internal market, the swift adoption of an assertive and effective international procurement instrument, measures on the export of dual-use technology, an effective anti-coercion instrument, a package of sustainable corporate governance legislation, and supply chain legislation with mandatory due diligence requirements, which should also provide for an import ban on forced labour goods; believes that additional targeted measures under the EU Global Human Rights Sanctions Regime should be considered as necessary; 49. Repeats its deep concern about the many barriers that European businesses face when accessing and operating on the Chinese market; is worried that China’s ‘dual circulation strategy’ referred to in its 14th Five-Year Plan will further deteriorate the business