European Council president Antonio Costa and his European Commission counterpart Ursula von der Leyen will visit China on July 24.

President Xi Jinping will meet with them, the Foreign Ministry announced on Monday in Beijing.

Premier Li Qiang and the two EU leaders will jointly chair the 25th China-EU summit.

The summit will also mark the 50th anniversary of the establishment of diplomatic ties between Beijing and Brussels.

The summit "is an opportunity to engage with China at the highest level and have frank, constructive discussions on issues that matter to both of us", Costa said in a statement on Friday.

"We want dialogue, real engagement and concrete progress. We aim for a fair, balanced relationship that delivers for both sides."

Von der Leyen said this month that the EU would look to rebalance economic ties with Beijing by demanding it eases market access for European companies and loosens export controls on rare earths.

That prompted the Foreign Ministry to respond by urging the bloc to "properly handle divergences and frictions" and "establish a more objective and rational understanding of China".

Last week, Brussels announced a new package of sanctions aimed at hobbling Russia's oil revenues, banking sector and military capabilities over the war with Ukraine and which also included some Chinese firms and financial institutions.

The Commerce Ministry in Beijing slammed the move on Monday, saying they "have had a serious negative impact on China-EU economic and trade relations". (Xinhua/AFP)