China will work with the European Union (EU) to handle differences properly in bilateral trade and investment, by means of dialogue and negotiation, Chinese Vice Premier Wang Qishan said in Beijing on Thursday.

Wang made the remarks at a meeting with visiting EU Trade Commissioner Peter Mandelson.

"With bilateral trade and investment developing rapidly, the majority of European companies and financial organizations in China have gained large profits," he said, speaking of the EU's dominance in the high-end market of today's China.

Wang also expressed the willingness to make common efforts with the EU to handle differences in bilateral trade.

"China is undergoing booming industrialization and urbanization, which brings not only opportunities but also challenges," Wang said. With the largest population in the world, "it's impossible for China to take the same path as developed countries took to achieve modernization.

"The Chinese government objects to trade protectionism in any form," he added.

(Xinhua News Agency September 26, 2008)