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China calls for fair treatment amid overseas acquisition probe in Europe

(People's Daily Online)    16:15, January 30, 2018

[Spokeswoman of Chinese Ministry of Foreign Affairs, Hua Chunying| FM]

China on Monday called for fair treatment and a better investment environment for its companies in Europe after Germany announced plans to scrutinize Chinese enterprises’ overseas acquisitions in European countries.

“China opposes, as always, any form of trade and investment protectionism. We hope the European side can objectively deal with commercial activities of the enterprises, as well as sticking to the principle of mutual benefit and joint development, in an effort to create good investment environment for Chinese companies,” Hua Chunying, spokeswoman for China’s Ministry of Foreign Affairs, was quoted as saying by Global Times on Monday.

According to Hua, Chinese companies’ acquisitions in Europe are normal market behavior, which has created mass job opportunities and tax income for Europe, as well as promoting marketing and capital channels for European companies’ overseas business.

Hua's response comes as Matthias Machnig, state secretary in Germany’s economics ministry, said it was urgent that proposed Europe-wide measures to police surging Chinese investment be adopted by the end of this year.

“It is essential that we get a tougher law in the European Union this year to resist takeover fantasies or outflows of technology or know-how,” he was quoted as saying by Reuters.

According to Cologne Institute for Economic Research, the volume of known Chinese investments in Germany had risen to 12.1 billion euros ($15.03 billion) in 2017 from around 11 billion the year before and just 100 million euros seven years ago.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Kou Jie, Bianji)

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