In a recent development, the China Chamber of Commerce to the European Union (CCCEU) has expressed strong concerns over the European Union’s application of its new Foreign Subsidies Regulation (FSR), labeling it as a form of economic coercion.
On Wednesday, the CCCEU criticized the European Commission’s initiation of two in-depth investigations targeting Chinese solar companies involved in public procurement for a photovoltaic park project in Romania.
“To date, the European Commission has launched three FSR in-depth investigations, all targeting Chinese enterprises,” the CCCEU noted, highlighting apprehensions about the potential implications of these probes.
The business group emphasized that the broad and ambiguous definitions within the FSR could impose undue burdens on companies, potentially leading to discrimination against foreign enterprises and distorting the level playing field for Chinese businesses operating in the EU.
The CCCEU urged the European Union to enhance transparency, protect the rights of Chinese companies, and reduce barriers to investment, public procurement, and business operations within the bloc.
“It is imperative for the EU to establish a legal and market environment that is fair, transparent, and non-discriminatory towards Chinese enterprises,” it asserted.
Based in Brussels, the CCCEU represents over 1,000 Chinese companies operating throughout the European Union, with chambers in several member states, fostering economic cooperation and mutual growth.
Reference(s):
cgtn.com
