CLIMATE CHANGE: China has just unveiled its target ahead of the Copenhagen meeting on climate change -- to cut the amount of carbon dioxide emitted per unit of gross domestic product in 2020 by between 40 and 45 percent, based on 2005 levels.

The European Union pledged in December 2008 to reduce its emissions by 20 percent by 2020 based on 1990 levels. It has indicated it could increase this figure to 30 percent if an ambitious international agreement was reached.

The Europeans have welcomed the Chinese plan, but have indicated they would like to push the Asian giant to go further.

FINANCIAL CRISIS, YUAN AND TRADE: China, the European Union's second biggest trading partner, saw its exports to Europe drop as the financial crisis took its toll. It also fears a rise in protectionism in Europe. In 2009, the European Union launched five anti-dumping investigations into Chinese products.

The Europeans, meanwhile, are pushing for a revaluation of the yuan, which has been effectively pegged to the dollar since the summer of 2008 at around 6.83 yuan. They argue this hurts their exports, weakens any future economic rebound and hampers efforts to tackle global economic imbalances.

However, Beijing says it wants to take its time and gradually reform its currency system, adding that conditions are not yet right.

BILATERAL RELATIONS: China and the European Union have been negotiating since January 2007 to sign a new partnership and cooperation agreement. The current agreement dates back to 1985.

More generally, after a period of tense relations last year over Tibet, the two sides could reiterate their desire for a "multipolar world" just as some observers say that the US-China couple -- or the so-called G2 -- eclipses the Europeans on the international stage.

HUMAN RIGHTS: Members of the European Parliament called Thursday on the European Commission and on the EU presidency -- currently Sweden -- to broach human rights abuses in China at the summit, particularly the situation in the western regions of Xinjiang and Tibet. They also called for a clause relating to the respect of human rights in China to be included in the new agreement currently under negotiation.

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