EU group says China plan ‘skews’ high-tech field

AFP,BEIJING: Beijing’s plans to use “staggering” subsidies to create national champions in high-tech industries would further skew China’s business playing field and worsen trade frictions, a European lobby group warned 
yesterday.
The EU Chamber of Commerce said in a report state subsidy of hundreds of billions of dollars and foreign technology transfers in 10 sectors were “highly problematic” and urged China to stop interfering in the market.
“We see that Chinese market players are entering the global marketplace, whereas we are still here in front of the Great Wall of China,” the group’s president Joerg Wuttke told reporters ahead of the release of the report on Beijing’s China Manufacturing 2025 plan first announced in 2015.

EU group says China plan skews high-tech field

AFP,BEIJING: Beijings plans to use staggering subsidies to create national champions in high-tech industries would further skew Chinas business playing field and worsen trade frictions, a European lobby group warned yesterday. The EU Chamber of Commerce said in areport state subsidy of hundreds of billions of dollars and foreign technology transfers in 10 sectors were highly problematic and urged China to stop interfering in the market. We see that Chinese market players are entering the global marketplace, whereas we are still here in front of the Great Wall of China, the groups president Joerg Wuttke told reporters ahead of the release of the report on Beijings China Manufacturing 2025 plan first announced in 2015.