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China Chamber of Commerce

China Chamber of Commerce to the European Union Criticizes EU’s Foreign Subsidies Regulation

Beijing, April 03, 2024, The Europe Today: The China Chamber of Commerce to the European Union (CCCEU) issued a statement on Wednesday condemning the European Union’s use of its new Foreign Subsidies Regulation (FSR) as a tool of economic coercion.

This criticism arises following the initiation of two in-depth investigations by the European Commission 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, expressing serious concerns over these probes.

The business group highlighted the broad and ambiguous definitions of key concepts listed under the FSR, emphasizing that the regulation could impose undue burdens on companies, potentially leading to discrimination against foreign enterprises and distorting the level playing field for Chinese companies operating in the EU.

The CCCEU urged the EU to enhance transparency, safeguard the rights of Chinese companies, and reduce barriers to investment, public procurement, and business operation within the EU.

“It is imperative for the EU to establish a legal and market environment that is fair, transparent, and non-discriminatory towards Chinese enterprises,” the statement added.

Based in Brussels, the CCCEU represents over 1,000 Chinese companies operating across the EU, with chambers in several member states.