European Chamber Speaks at World Manufacturing Convention 2018

2018-05-25 | All chapters

During the World Manufacturing Convention 2018 which took place on 25 May in Hefei, Anhui Province, Mr. Carlo D'Andrea, Chairman of the Shanghai Board and Vice President of the European Chamber, spoke at a breakout session on Business Organizations in a World of Disruptions, along with representatives from other foreign chamber and industry association. Mr. D'Andrea shared with the audience the mission and vision of the European Chamber. Despite the foreign businesses generally perform well in China in recent years, they still face massive regulatory challenges, market access barriers and administrative hurdles. Their businesses, specifically the SME's, have been affected significantly. While China can invest in Europe freely, the European business is facing severe investment restrictions in China. In order to achieve the ambitious goals set for developing ten industries by the  China Manufacturing 2025 plan, the Chinese central and local governments have announced hundreds of billions of euros of funding in the form of subsidies, funds and other channels of support. This has created an even unfair playing field for foreign businesses. Expanding market access, calling for reciprocity, and creating a level playing field for the foreign business, have thus become top three advocacy priorities of the European Chamber.