China and the European Union (EU) have agreed to launch negotiations on a framework agreement, which will encompass the full scope of their bilateral relationship, said Chinese Premier Wen Jiabao on Saturday.

The Partnership and Cooperation Agreement will reflect the full "breadth and depth" of today's comprehensive strategic partnership between the EU and China, European Commission President Jose Manuel Barroso told reporters at a joint press conference with Wen and Finnish Prime Minister Matti Vanhanen.

The new framework agreement will update a 1985 trade and economic cooperation agreement between China and the European Economic Community, the predecessor of the EU.

The negotiations will be administered in a relatively independent manner, taking into consideration the global objectives of the EU-China strategic partnership, according to a joint statement released after an EU-China summit on Saturday.

Source: Xinhua