European Chamber Secretary General Meets Assistant Minister of IDCPC
2024-03-27 | All chapters
On 27th March, Secretary General Adam Dunnett attended a closed-door roundtable hosted by Assistant Minister Zhao Shitong of the International Department of the Communist Party of China (IDCPC), to provide feedback on China’s business environment. Dunnett welcomed the Chinese Government’s stated commitment to provide national treatment for foreign businesses taking part in public procurement. However, he also noted that currently, foreign companies taking part in public procurement activities receive unequal treatment, highlighting examples of the healthcare equipment, rail, and IT and telecommunications industries. Dunnet went on to introduce key points from the Chamber’s recently launched report, Riskful Thinking: Navigating the Politics of Economic Security. He stressed that the EU and China have fundamentally different approaches to risk management, in that while the EU is using a narrow and precise approach to de-risking through diversification, China is focused on achieving technological self-reliance across a wide range of sectors.
Dunnett also called on China’s free trade zones to continue to lead on piloting improved cross-border data transfer policies, and for the further opening up of the duty-free market in Hainan. In conclusion, he recognised the recent increased engagement from government authorities with foreign businesses, particularly in light of the ‘24 measures’. He highlighted the positive discussions that took place in the EU-China financial dialogue last week, expressing his hope that it would lead further market opening and regulatory optimisation.
Dunnett was thanked for his candid views. Representatives from Chinese think tanks that were also attending the meeting highlighted that current geopolitical issues and the sluggish global economic recovery pose a challenge to China’s efforts to balance efficiency and security. At the same time, they noted that China’s opening-up policy is now resulting in reforms to the government’s overall regulatory system. They also said they are looking for a strengthening of the EU-China bilateral trade relationship, with the hope that negotiations on the EU-China Comprehensive Agreement on Investment will resume, to the benefit of both sides. In conclusion, Assistant Minister Zhao said that the discussions had helped to facilitate mutual understanding, and highlighted the areas where increased efforts are needed on both sides.