Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Companies  >  All News

News : Companies
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors

Talex : EU's economic relationship with China

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/16/2020 | 12:04pm EST

BusinessEurope published its key strategy paper on the EU's economic relationship with China. Systemic challenges prevent European companies from untapping the economic potential of EU-China business cooperation. The obstacles created by China's state-led economy lead to market distortions in China, in the EU and in third countries. The Confederation of Industry together with the BusinessEurope call on the EU to reconsider how it engages with China, so that it can seize the opportunities and mitigate the distortions and challenges created by China's state-led economy.

BusinessEurope President Pierre Gattaz said:

'China and Europe have benefited tremendously from China's accession to the WTO in 2001. But in recent years, the consolidation of China's state-led economy over market-oriented reforms and the difficulty in achieving much-needed WTO reform have led to an imbalance in the global level playing field.'

As Mr Lukas Martin, Director of the International Relations Section in the Confederation of Industry of the Czech Republic stated:

'The Confederation of Industry is pleased it could take its small part in putting together this comprehensive and highly informative document. It is an extremely up-to-date and interesting text to read. It is a strategy paper but do not expect a simple position document. It brings an in-depth expert analysis of a huge amount of data, thorough evidence-based findings with very interesting and down to earth recommendations.'

BusinessEurope Director General Markus J. Beyrer said:

'There is today a renewed sense of urgency among the European business community: the systemic challenge posed by China's market-distorting practices cannot remain unaddressed. The EU should rethink how it engages with China, with a view to securing a stronger and fairer economic relationship and levelling the playing field.'

In order to rebalance the economic relationship towards a stronger and fairer one, BusinessEurope advances four key objectives for the EU to pursue:

  1. Secure a level playing field between China and the EU;
  2. Mitigate the impact of China's government-induced market distortions;
  3. Reinforce the EU's own competitiveness;
  4. Ensure fair competition and cooperation on third markets.

To achieve these four objectives, the paper lists 130 recommendations to authorities in the EU and its Member States.

The Confederation of Industry of the Czech Republic (SPCR) has been a member of BusinessEurope, the Confederation of European Business, since 1993. BusinessEurope is the leading advocate for growth and competitiveness at European level and a recognized social partner. It represents 40 national business federations from 34 European countries and on their behalf regularly interacts with the European institutions and other stakeholders.

Read BusinessEurope's strategy on rebalancing the EU-China relationship here.

Read also the executive summary in English here, in Chinese (Mandarin) here.

Disclaimer

SP - Confederation of Industry of the Czech Republic published this content on 16 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 January 2020 17:03:03 UTC

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Companies"
10:30pDUXTON BROADACRE FARMS : FM says China to enhance intl cooperation over battle against epidemic
PU
10:28pTim Hortons pulls Beyond Meat products from Ontario, British Columbia
RE
10:24pASTRON CONNECT INC. : (Formerly "Exalt Capital Corp") Reports Full Year 2019 Results
AQ
10:23pEAST JAPAN RAILWAY : New Harajuku station building unveiled ahead of March opening
AQ
10:20pFRASER RANGE METALS : December 2019 Monthly Cash Flow
PU
10:14pS-Oil to supply oil products worth $2.66 billion to Saudi Aramco's trading unit
RE
10:03pUPDATE1 : Renault picks Volkswagen's De Meo as CEO
AQ
10:01pGlobal Kiteboarding Equipment Market 2020-2024 | Inclusion of Kiteboarding in Olympics to Boost the Market Growth | Technavio
BU
10:01pATIF Holdings Limited Contributes 1.5 Million Protective Masks to Wuhan's Fight Against Coronavirus
GL
10:01pCIM COMMERCIAL TRUST : Declares Series A Preferred Stock Dividend
BU
Latest news "Companies"