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EU Chamber of Commerce calls for fairer conditions for EU companies in China
Many companies from Europe cannot avoid China. However, the important market is a tough place for many companies. The European Chamber of Commerce therefore sees the government as having a duty. EU companies can provide much-needed competition and technology to the Chinese economy, according to an analysis by the Chamber of Commerce. However, this requires open markets and a level playing field. The Chamber of Commerce calls on the Chinese government to regain the trust of companies and create clear laws and rules to ensure more predictability. China should also open up and make certain industrial sectors accessible to the private sector in order to increase productivity. The analysis…
EU Chamber of Commerce calls for fairer conditions for EU companies in China
Many companies from Europe cannot avoid China. However, the important market is a tough place for many companies. The European Chamber of Commerce therefore sees the government as having a duty. EU companies can provide much-needed competition and technology to the Chinese economy, according to an analysis by the Chamber of Commerce. However, this requires open markets and a level playing field. The Chamber of Commerce calls on the Chinese government to regain the trust of companies and create clear laws and rules to ensure more predictability. China should also open up and make certain industrial sectors accessible to the private sector in order to increase productivity.
The Chamber of Commerce analysis indicates that while the Chinese economy appeared to be recovering since opening up after the coronavirus pandemic earlier this year, the trend has leveled off. Demand remained weak and various sectors of the economy failed to meet expectations. There are currently problems in the real estate industry in particular that are having a negative impact on economic performance.
Geopolitical tensions have led China to want to be less dependent on other markets for technology and instead focus on self-reliance. Therefore, the Chinese government has tightened the rules for foreign companies. EU companies had to struggle with new guidelines and laws. The Chamber of Commerce therefore recommends exchanges with other governments in order to reduce politicization in the corporate world. In addition, companies should not be punished for the actions of their home governments.
The Chamber of Commerce is also calling on China to shift its focus away from state-owned enterprises and open up certain industrial sectors to the private sector to increase productivity. The government is signaling openness to foreign investors, but a standardized and competitive market has not yet been created.
According to a report by www.stuttgarter-nachrichten.de
Read the source article at www.stuttgarter-nachrichten.de