CHINA China urges EU to provide transparent business climate for Chinese companies


China urges EU to provide transparent business climate for Chinese companies

Global Times

20:21, June 09, 2021

Chinese Foreign Ministry spokesperson Wang Wenbin. (Photo: VCG)

China will ramp up efforts to provide a better business climate for foreign companies, including those from EU countries, and it urges the EU to also provide such a business environment for Chinese companies, a spokesperson of the Ministry of Foreign Affairs said on Wednesday.

The remarks came in response to a survey released by the EU Chamber of Commerce in China, saying that nearly 60 percent of European companies plan to expand in China this year, compared with 51 percent of those surveyed last year.

China's promotion of a new higher-level open economic system will bring broader development opportunities for companies from various countries, including European countries, Wang Wenbin, spokesperson of the Ministry of Foreign Affairs, said.

China will continue to provide a better climate for foreign companies in China, including those from EU countries, and it hopes that all parties, including the EU, will also provide open, transparent, and non-discriminatory services for Chinese companies to invest and develop overseas, he added.

The survey found that 73 percent of the interviewed companies said they achieved profitability last year, while another 14 percent said they reached a break-even point. About 68 percent of the respondents are optimistic about the business prospects of their industry in the next two years, up from 48 percent last year.

The report also said that one-quarter of the companies are strengthening their supply chain construction in China, and about half of the companies surveyed said that their profit margins in China are higher than the global average, which is much higher than last year's level.

Many international organizations have issued reports saying that China is taking the lead in achieving economic growth among the major economies in the world, which "once again proves that the international community has affirmed China's achievements in fighting the pandemic and its confidence in China's economic development prospects," Wang said.

The World Bank released its Global Economic Prospects report on Tuesday, forecasting GDP growth of 8.5 percent in 2021 for China, which will be leading the major economies.

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