China-EU trade, investment growing rapidly (Chinese experts)

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Bilateral trade and investment relations between China and the European Union (EU) have developed rapidly despite the impact of the COVID-19 pandemic, according to Chinese experts, who recently said that the EU should continue to stand firm on trade liberalization and multilateralism, thereby building confidence. foreign companies to continue investing in the bloc.

China has become the EU’s biggest trading partner, and the EU China’s second biggest, state-controlled Chinese media reported.

From January to September, China’s direct investment in the EU reached $4.99 billion, up 54 percent year-on-year, the Commerce Ministry said.

Bilateral trade and investment relations between China and the European Union (EU) have developed rapidly despite the impact of the COVID-19 pandemic, according to Chinese experts, who recently said that the EU should continue to stand firm on trade liberalization and multilateralism, thereby building confidence. foreign companies to continue investing in the bloc.

“China has always supported the European integration process. Yet, in the last year, trade protectionism in the EU has become a bigger problem, and the business environment there has declined, which could hurt companies Chinese companies doing business in the EU,” Zhao said. Ping, vice-dean of the Council of the China Academy for the Promotion of International Trade (CCPIT), China’s foreign trade and investment promotion agency.

She made the remarks as the CCPIT released a report in Beijing on the EU’s business environment in 2021 and 2022. The CCPIT surveyed some 300 companies that do business in the EU.

“Since last year, the EU has raised the market access thresholds for foreign companies, and nearly 60% of companies surveyed said the foreign investment screening process had had some negative impact on their investments. and their operations in the EU,” Zhao said.

Meanwhile, the EU has treated domestic and foreign companies differently in the name of anti-pandemic measures, and Chinese companies are facing growing discrimination from law enforcement in the EU, according to The report.

Companies surveyed rate Germany, France, the Netherlands, Italy and Spain as five EU countries with the best business environments, while the lowest rating belongs to business environment of Lithuania.

Fibre2Fashion (DS) News Desk

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