The China Chamber of Commerce to the European Union (CCCEU) on Wednesday condemned the European Union for leveraging its new Foreign Subsidies Regulation (FSR) as a means of economic coercion.
This strong critique follows the European Commission's initiation of two comprehensive investigations targeting Chinese solar companies involved in public procurement for a Romanian photovoltaic park project.
\"To date, the European Commission has launched three FSR in-depth investigations, all targeting Chinese enterprises,\" the CCCEU stated, highlighting their concerns over these probes.
The business group emphasized the broad and vague definitions of key concepts within the FSR, arguing that the regulation imposes excessive burdens on companies. They warned that it could lead to discrimination against foreign enterprises and \"distort the level playing field for Chinese enterprises operating in the EU.\"
In response, the CCCEU has called on the EU to enhance transparency, safeguard the rights of Chinese companies, and reduce obstacles related 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,\" the CCCEU added.
Based in Brussels, the CCCEU represents over 1,000 Chinese companies operating across the EU, with chambers established in several member states.
Reference(s):
cgtn.com
