European Union: Issued statement following the 24th EU-China Summit including provisions related to artificial intelligence regulation

On 7 December 2023, the European Union (EU) and China issued a statement following the 24th EU-China Summit, which took place in Beijing. Notably, discussions included the joint responsibility of both parties to establish a transparent and competitive environment for the digital economy. This involved ensuring a level playing field for artificial intelligence(AI) that respects human rights and fundamental freedoms. During the summit, the EU underscored the shared goal of preventing the fragmentation of standards for information and communication technologies. Both parties acknowledged that relying solely on market forces would not lead to an optimal solution that ensures safety while also fostering innovation. Consequently, there was a mutual agreement that while voluntary guardrails are beneficial for progress, binding rules are ultimately necessary. Furthermore, both parties concurred on the importance of global cooperation in the field of artificial intelligence. They expressed a commitment to seeking collaborative efforts in this domain at the global level.