European Chamber Comments on the Central Economic Work Conference Go back »

2017-12-23 | All chapters

European Chamber Comments on the Central Economic Work Conference

The message from the Central Economic Work Conference (CEWC) is clear: China must mitigate major financial risks, alleviate poverty and achieve quality growth. The CEWC has also sent strong signals that Chinese citizens’ quality of life will take centre stage moving forward. The European Chamber welcomes these clearly defined objectives.

To achieve these aims, China needs to undergo deep economic reform. This should include implementation of long-awaited plans for further opening up the economy to foreign business and the creation of a level playing field for domestic and foreign companies. China’s economy not only needs corrective action to deleverage the debt-heavy financial system, but address industry overcapacity as well.

Having already experienced similar stages of development in their home countries, European businesses can be helpful partners in navigating this new period of reform. At a political level, the European Chamber sees the ongoing EU-China Investment Agreement negotiations as a potential driver for reform and thus calls upon the Chinese Government to redouble its efforts in reaching an agreement that lets investment flow smoothly between the two economies.

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June Yu

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