With the proposal of the “Global Gateway” initiative, the EU’s participation in global connectivity has entered a new stage. The EU’s connectivity strategy shows a significant trend of pan-securitization, which means expanding the connotation of connectivity products, strengthening the security screening of connectivity investments, highlighting ideology and values, and competing with China for discourse power. China and the EU are highly complementary in connectivity, but in the context of pan-securitization of the EU’s connectivity strategy, the cooperation between the two partners faces many challenges. In the future, China and the EU can start from less controversial areas such as green finance, energy, and climate change, make good use of the existing connectivity cooperation platforms, and carry out more “small but refined” projects, so to consolidate the foundation of bilateral pragmatic cooperation more firmly.