Chinese commerce chamber concerned over EU's stronger protocols for foreign investment screening

Updated 2017-09-15 09:00:35 Xinhua
Cars pass the European Commission building in Brussels, Belgium, March 24, 2017. (Xinhua/Ye Pingfan)

Cars pass the European Commission building in Brussels, Belgium, March 24, 2017. (Xinhua/Ye Pingfan)

The Chinese Chamber of Commerce in Germany (CHKD) on Thursday expressed its concerns over Europe's stronger protocols for foreign investment screening.

The chamber said in a statement that European and German politicians are increasingly ignoring the opportunities offered by Chinese investments. Many examples have already shown that building mutual trust-based partnerships with Chinese investors is the reason for the success of many mergers and acquisitions.

"It is hard to imagine that Germany and Europe, which benefit from the open market and globalization, will in the future to prevent and restrict such business relationships that are helpful to their own economies," the statement said.

Considering the European Commission's proposal and existing changes on German investment law, Chinese enterprises in Germany realized that they will face more political uncertainties and opaqueness in the future, which unnecessarily raised the risk of overseas investment, CHKD noted.

European Commission President Jean-Claude Juncker proposed on Wednesday in his annual State of the Union address the Europe's stronger protocols for foreign investment screening, in order to protect strategic interests.

The change of relevant laws and rules will probably affect the current and future investment plans of Chinese companies. It will also continuously harm the economy and investment environment of Germany and Europe, according to the statement.

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