Europe’s richest regions actively seek investment from China’s biggest banks

From left to right, H.E. Ambassador Yang Yanyi of the Chinese Mission to EU, Mr Markku Markkula, President of the Committee of the Regions (CoR) and Luigi Gambardella, President of ChinaEU (© European Sting)

From left to right, H.E. Ambassador Yang Yanyi of the Chinese Mission to EU, Mr Markku Markkula, President of the Committee of the Regions (CoR) and Luigi Gambardella, President of ChinaEU (© European Sting)

It is as of last Saturday that the European Commission imposed heavy tariffs on three big solar panel manufacturers of Chinese origin. The EU’s executive arm basically took out three Chinese companies from a pact with China that had been signed in 2013 and provided them with the privilege of low import tariffs to the Old Content. Canadian Solar, ET Solar and ReneSola Ltd allegedly violated the agreement by dumping their product prices into Europe, below the minimum price level set.

Apparently the EU seems now decisive to open again the trade file of the Chinese solar panels.“The findings of breaches of the undertaking and its impracticability established for Canadian Solar, ET Solar and ReneSola require the withdrawal of the acceptances of the undertaking for those three exporting producers”, the executive declared last Friday.

China-EU investment partnership

While the long standing EU trade matter of the Chinese solar panels seems to be back, a major development also took place at the end of last week in Brussels regarding China-EU business. “China, the Digital Economy and the EU investment plan” happened as a side-event of the 112th Plenary Session at the Committee of Regions (CoR). Organised by ChinaEU it brought together representatives from the Committee of Regions, the biggest Chinese banks and Chinese companies together with diplomats from the Chinese Mission to EU. The scope of the workshop was China-EU business and trade relations with an emphasis on the attraction of major Chinese investment in Europe.

Committee of Regions

The workshop of last Thursday welcomed some very prominent keynote speakers: Mr Markku Markkula, President of the Committee of the Regions and H.E. Ambassador Yang Yanyi, Head of the Chinese Mission to EU, together with high officials of the European Commission and European regions. President Markkula initiated the debate passing the clear message of the workshop: “we can bring the best European committees of regions to collaborate with Chinese ones”.  Labelling his organisation as “an innovative political web”, Mr Markkula appeared certain that this EU institution is able to bring new business opportunities regarding China-EU collaboration.

Interestingly the President of the Committee of the Regions said about the institutions that “it’s not any more an industrial cluster; it’s many clusters… EU cities and regions…city pairings…infrastructure China-EU…”. Referring to Juncker’s Investment Plan that amounts to 315 billion euros,  he declared: “we need to have a visible role in implementation of Juncker’s plan”. The EU official made it clear that Europe would rely also on possible foreign investors like China and he assured that the Committee of Regions can play a crucial role in this direction with open regional dialogue and workshops.

Chinese “Silicon Valley”

H.E. Ambassador Yang Yanyi participated in the workshop with an extensive opening keynote speech that set the grounds for China’s growth plan and its investment strategy in the EU. Mrs Yanyi opened her speech by stressing that currently “China is shifting from manufacturing to innovation”. Further, she mentioned that the Asian giant is constructing the “Chinese silicon valley” at the Chinese city of Zhongguancun. It is there where streets with restaurants and bookstores are being transformed to a hub for innovative start-ups. The Chinese Premier, Mr Li Kequang, who will be visiting Brussels at the end of June for the 17th China-EU Summit, is himself a keen promoter of innovation strategies for the country, Mrs Yanyi added.

“As heaven maintains bigger through movement, a gentleman should always…pursue excellence”, the Chinese Ambassador later shared a Chinese proverb, showing how China is undergoing continuous transformation and progress. Alibaba, Huawei, ZTE, Lenovo are certainly some of China’s best innovation examples that the Chinese diplomat also cited. However, innovation is not restricted to technology but Mrs Yanyi also spoke about the comprehensive agricultural innovation that is taking place in China.

Certainly, the world economy is undergoing profound adjustments, as Mrs Yanyi underlined, but China is committing to a medium-high level growth. To achieve that China will be implementing structural reforms and an intensive industrial structure upgrade, the Chinese diplomat reassured the audience of the workshop at the Committee of Regions last week.

2025 China Strategy

What is more, she did not omit to refer to the “2025 China Strategy” and she revealed to us that a major part of it is a substantial focus on smart technologies and green growth. Networking, digitalisation, information networks and smart energy are certainly focal points of China’s core strategy. In addition, Mrs Yanyi spoke about particularly the role of the expansion of Internet in the vast Asian country. Internet, cloud computing, Internet of Things as well as e-commerce and e-banking are certainly forming part of the huge ICT transformation in China today.

The Chinese Ambassador did not limit her speech on ICT, but soon talked about the growing start-up sentiment in the Asian country. In a country where 900 million SMEs strive for market share, China is currently passing a reform to manage its Youth distribution of the profits. To that the “national strategy on Intellectual property rights” surely contributes, as intellectual property is a company’s greatest asset. Moreover, according to Mrs Yanyi, China is currently advancing in sectors like urbanisation, research, technology and education possessing many hubs that attract world interest.

China-EU 40 Years

Moving to the core of the Chinese ambassador’s message, Mrs Yanyi soon without further due referred to the China-EU relations and particularly to the inauguration of the China-EU 40 years anniversary. This anniversary, she stated, signifies a win-win progress driving the two stakeholders to “new heights of excellence” and “new engines of growth”.

She later stated that one of the major areas that China-EU relations should invest on is ICT. Mrs Yanyi talked about the Digital Single Market, on the one hand, and, on the other hand, the importance of innovation in the “One belt-one road” Chinese strategy. She also confirmed that the amplified ICT path that the two economic powers follow create new job opportunities and promote a global inclusion via access to the Internet.

The Ambassador interestingly talked about the collaboration between Europe and China in ICT and made it clear that China is willing to become a major ICT investor in Europe. China and EU high tech companies are today sweeping digitisation of the global economy, she added. The advancement of the China-EU digital cooperation is in the interest of both economies.

17th China-EU Summit

Mrs Yanyi closed her speech announcing the profound importance of the 17th China-EU Summit that will take place at the end of June in Brussels between the two major trade players. It will be a “converging point”, as Mrs Yanyi characterised it, for the China-EU economic dialogue. Aiming at raising awareness about the “One belt one road” Chinese strategy, the Chinese diplomat welcomed a “public-private collaboration”, focusing on many aspects of ICT like innovation, 5G, standards, Internet, Cybersecurity and Big data. This would be a way to “expand China-EU urbanisation collaboration”.

However, probably referring to examples like the EU antidumping measures against Chinese solar panels, the Ambassador of the Chinese Mission to EU prompted the European to “remain vigilant against protection”.

Chinese investment in Europe

The workshop last Thursday at the Committee of Regions concluded with a presence from prominent representatives of China’s biggest banks like Bank of China, ICBC, Agriculture Bank of China and China Construction Bank. An intense dialogue opened with top public officials from wealthy European regions, to refer to projects where Chinese investors are welcome.

The President of ChinaEU, Luigi Gambardella, mentioned that his organisation would try to become the bridge between Chinese investors and European regions, examining projects case by case. Finally Mr Jorgen Gren, Member of the Cabinet of the Commission’s Vice President Ansip, opened a “digital discussion” about the collaboration of the EU with the major contribution by China’s ICT champions like Huawei and ZTE.

It remains to be seen, thus, how China-EU business relations will involve based on a fruitful win-win collaboration for the two economies, in order to pursue a fruitful sustainable growth and stability.

Advertising

the sting Milestone

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

Bacterial resistance: the significant worldwide problem

The German automotive industry under the Trump spell

Can the EU really make Google and Facebook pay publishers and media?

Evacuation of wounded Yemenis from rebel-held capital may bolster fresh peace talks

Asylum seekers in Sri Lanka fear for their safety, in wake of Easter Sunday terror attacks

Why we need different generations in the workplace

EU finally agrees on target for 40% greenhouse emission cuts ahead of Paris climate talks

Camino de Santiago – a global community on our doorstep

6 ways to drive funding to transform the fashion industry

Recognize, celebrate and ‘stand in solidarity’ with persons with albinism

Here are three ways blockchain can change refugees’ lives

The EU sides with China against the US; but has Germany capitulated to America?

Syria: ‘Deplorable’ violence in Idlib against civilians, humanitarian workers must ‘stop immediately’: UN Coordinator

2016 crisis update: the year of the Red Fire Monkey burns the world’s markets down

One small flight for a drone, one ‘big leap’ for global health

South Eurozone urgently needs fairer distribution of taxation burden

Trump asked Merkel to pay NATO arrears and cut down exports ignoring the EU

Putin becomes the ‘perfect enemy” for the West

Brexit: visa-free access to the EU for UK nationals and to the UK for Europeans

International Day of the Midwife: 5 things you should know

Coronavirus: How worried should we be?

How has tech been used for good in civil society? We asked the experts

World Cancer Day: Early cervical cancer diagnosis could save lives of over 300,000 women

The European Youth Forum needs better signal for its “call” for Quality Internships

Social entrepreneurs can change the world – but these 6 things are holding us back

Bitpay @ TheNextWeb 2014: Innovation’s Best Friend

daniela-runchi-jade-president__

A Sting Exclusive: “Education in Europe, fostering skills development inside and outside the school system”

5 things to know about the exploding world of pro gaming

Marking international day, UN experts call for urgent action to end racial discrimination, in wake of New Zealand anti-Muslim attack

Banks, insurance giants are free again to abuse the real economy

Brexit: MEPs concerned over reported UK registration plans for EU27 citizens

Monday’s Daily Brief: ‘Horror’ at Notre Dame fire disaster, Yemen still bleeding, measles now ‘global crisis’

The importance of collaboration in the digital economy

European Commission adopts new list of third countries with weak anti-money laundering and terrorist financing regimes


Re-thinking citizenship education: bringing young people back to the ballot box

Link between conflict and hunger worldwide, ‘all too persistent and deadly’, says new UN report

How we can work together in the fight against NCDs

US life expectancy is falling – here’s why

Humans account for only 0.01% of life on Earth – but our impact has been immense

eGovernmnet for more efficiency, equality and democracy

UN police officer recognized for protecting vulnerable Somali women from abuse

How to make trade single windows more efficient with blockchain

Preferential tariffs to help Western Sahara to develop

A long German political winter is on the way

EU Budget: A Reform Support Programme and an Investment Stabilisation Function to strengthen Europe’s Economic and Monetary Union

It’s time to switch to a four-day working week, say these two Davos experts

New Disability Inclusion Strategy is ‘transformative change we need’, says Guterres

12 ways the tech sector can help save the climate in 12 years

Security Council should ‘nurture’ Colombian consensus against return to violence, top UN official urges

US cities are going to keep getting hotter

Our Amazon is disappearing in ashes

Natural gas: Parliament extends EU rules to pipelines from non-EU countries

Coronavirus is officially a pandemic – but we can change its course: Today’s WHO briefing

Migration has set EU’s political clock ticking; the stagnating economy cannot help it and Turkey doesn’t cooperate

The future of sustainability: recycling carbon through the power of the sun

The ECB will do whatever it takes to set the Eurozone economy again in motion

A shipping industry leader explains how to keep supply chains moving amid a pandemic

Blue bonds: What they are, and how they can help the oceans

EU signs with Canada historic trade agreement, others to follow

Why this is the year we must take action on mental health

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s