EU Tour – Meeting with Vice President Jyrki Katainen

2016-01-26 | Beijing

EU Tour – Meeting with Vice President Jyrki Katainen

At this meeting, China’s economic situation and outlook was presented as well as the impact of the economic slowdown on its reform and opening up process. Concern was also raised about China’s stock market. Furthermore, the main outcomes of the Chamber’s overcapacity study were discussed.

Moreover, the following points were raised:

·         An ambitious Europe-China Comprehensive Agreement on Investment is needed that allows robust market access.

·         Regarding China’s Market Economy Status (MES), it is very important that VP Katainen visits China in April 2016 to discuss the MES and Europe’s stance on this. There are concerns about potential retaliation.

·         It was said that One Belt, One Road (OBOR) will not contribute to alleviating overcapacity.

·         Concern was raised regarding the fact that provinces can decide on the approval of local coal-fired power plants since recently. This has resulted in a big increase of such plants in a short period of time.

·         The anticorruption campaign is still in full swing.

·         Reform and opening up is urgently needed.