BEIJING, May 24 (Xinhua) -- China is willing to develop long-term, stable and win-win economic and trade relations with the European Union (EU), and urges more practical cooperation in this area, Chinese Vice Premier Liu He said Thursday.

Liu, who is also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks during a phone conversation with European Commission Vice President Jyrki Katainen.

The two, who co-chair the China-EU High Level Economic and Trade Dialogue, agreed to hold the 7th dialogue as soon as possible.

The dialogue is an important platform to strengthen practical bilateral cooperation in the economic and trade area, Liu said.

Nothing that the EU highly values EU-China economic and trade relations, Katainen said the EU is willing to work with China to safeguard free trade rules and multilateral trade mechanisms, and to further promote the development of bilateral economic and trade relations.