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European industry issues China warning before Scholz visits Beijing

The industry leader for the European Union stated on Monday that European governments and businesses must see China as an EU competitor and should not be stupid when approving Chinese investment.

 

The remarks made by European Commissioner Thierry Breton seemed to be directed partially at Germany, whose Chancellor Olaf Scholz will be in Beijing on Friday.

 

Over the past few years, the EU has passed a series of defensive measures aimed to better oversee investment from state-owned foreign enterprises, especially from China, to ensure competing powers do not gain more political weight over the group.

 

However, Germany’s recent decision to permit the sale of an interest in Hamburg’s port, the nation’s largest, to a Chinese corporation, has many diplomats perplexed.

 

Breton stated in an interview with Reuters that he ‘liked’ the choice to sell China’s Cosco only 25% of the terminal as opposed to the previous proposal, which would have sold China more than a third of the terminal and given it a minority blocking position.

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