BEIJING, Sept. 15 (Xinhua) -- Chinese President Xi Jinping met Monday with German Chancellor Angela Merkel, whose country currently holds the rotating presidency of the European Union (EU), European Council President Charles Michel and European Commission President Ursula von der Leyen via video link, charting the course for the development of China-EU relations in next stage.

Analysts said the meeting will provide strategic guidance for China-EU relations and contribute to the global economic recovery after the pandemic.

During the meeting, Xi put forward four principles for developing China-EU relations -- peaceful coexistence, openness and cooperation, multilateralism, and dialogue and consultation.

The analysts said these four principles will help stimulate fresh vitality and potential for bilateral cooperation.

"For China and the EU, cooperation is far greater than competition; consensus far exceeds differences," said Chen Fengying, a researcher at the China Institutes of Contemporary International Relations (CICIR), noting that mutual benefit is the essence of China-EU cooperation.

Luigi Gambardella, president of ChinaEU, a business-led international digital association in Brussels, said "we hail the frankness and pragmatic spirit in which this meeting took place. We believe that by bringing the commitment of cooperation into substantial dialogues, both Europe and China can benefit, share and learn a lot from each other."

Xi put forward several proposals on China-EU cooperation, which include maintaining the stability of the global industrial and supply chains and jointly promoting the recovery of the world economy. He also highlighted cooperation on vaccine research and development, resumption of personnel exchanges, and tripartite cooperation with Africa.

Analysts said these proposals will inject confidence and impetus into the global economic recovery.

The leaders also announced the official signing of the China-EU agreement on geographical indications and affirmed their commitment to speeding up the negotiations of the China-EU Bilateral Investment Treaty, vowing to conclude the negotiations within this year, among others.

"These achievements and consensus have added stability and certainty to the recovery of the world economy from recession at an early date," said Zhou Lihong, chairperson of the China Chamber of Commerce to the European Union.

During the meeting, the European leaders also agreed that it is imperative for the two sides to strengthen cooperation, jointly safeguard multilateralism, resist unilateralism and protectionism, and respond more effectively to various global challenges.

This won applause from analysts. "Promoting multilateral cooperation is the common task of the international community and the only right direction for improving global governance," said Chen with the CICIR.