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

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Featured Stings

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

Phone lines open between Ethiopia and Eritrea, and people are calling strangers

EU continues targeting on Chinese steel imports instead of the revival of its own economy

‘Terror and panic’ among Rohingya who may be forced to return to Myanmar – UN rights chief

SMEs and micro firms sinking together with south Eurozone

For video game addiction, now read official ‘gaming disorder’: World Health Organization

Euro-Mediterranean Assembly fixes its permanent seat in Rome

UN Forum examines three pillars of 2030 Global Goals

Why is the EU launching a doomed policy in stopping immigrant waves? What are the real targets?

The migration crisis is slowly melting the entire EU edifice

Global Citizen-Volunteer Internships

A European Discovers China: 3 First Impressions

Lies and reality about incomes and wealth in the EU

The EU Commission openly repudiates the austere economic policies

Parliament approves key directive regulating professional qualifications

UN chief welcomes resolution to 27-year-old disagreement over renaming the former Yugoslav Republic of Macedonia

EU unveils plan to accelerate Capital Markets Union ahead of London’s departure from the bloc

Key Brazilian border crossing for Venezuela refugees reopens as asylum numbers pass last year’s total

Digital development: technology-enabled, but human-centric

10 months were not enough for the EU to save the environment but 2 days are

London to say hello or goodbye to Brussels this week

MEPs want robust EU cyber defence and closer ties with NATO

Brussels enraged with Swiss referendum result to keep out EU citizens

Conflict and climate change challenge sustainable development effort: UN report

Nicaragua must end ‘witch-hunt’ against dissenting voices – UN human rights experts

Discussion at Europe House: Brexit & Food

No tears for Cyprus in Brussels and Moscow

China is building 8 new airports a year

FEATURE: Niger’s girls find sanctuary in fistula treatment centres

COP21 Breaking News_03 December: Unprecedented Global Alliance for Buildings and Construction to Combat Climate Change

A geared turbofan at Pratt & Whitney's production hub in West Palm Beach (copyright: Pratt & Whitney - a UTC Company- 2018; Source: Pratt & Whitney's website, media center)

The EU Commission approves UTC’s acquisition of Rockwell Collins under conditions

How bad could British healthcare get for its citizens abroad post-Brexit?

Cancer research put at risk by General Data Protection Regulation? The possible dangers of a data privacy EU mania

Teenage girl’s death sentence spotlights Sudan’s failure to tackle forced marriage, gender-based violence – UN rights office

Greece and Ukraine main items on EU28 menu; the course is set

Diversity training doesn’t change people’s behaviour. We need to find out what does

Let Nagasaki remain ‘the last city’ to suffer nuclear devastation says museum director, as UN chief arrives

UN Environment Assembly 2017: where the world convenes to #BeatPollution

European Parliament calls on Russia to end occupation of Georgian territories

France sneaks into the Geneva US-Iran talks to claim its business share in Tehran

Europe provides financial support to African countries while Turkey denies to change terrorism laws jeopardising the EU deal

Global Citizen-Volunteer Internships

‘Much more’ can be done to raise awareness about the plight of persons with albinism: UN chief

Rule of law in Hungary: Parliament should ask Council to act, say committee MEPs

“There are many converging visions and interests between the One Belt One Road initiative and the Juncker Investment Plan”, Ambassador Yang of the Chinese Mission to EU highlights from Brussels

The EU launches € 1 billion plan on supercomputers and tries to catch-up with competitors

The EU threatens to occupy Libya militarily; is another colonial war brewing?

Ukraine turns again to the EU for more money

How will the EU face the migration crisis when the Turkish threats come true?

Disintegrating Tories will void May’s pledge for Brexit deal in seven weeks

Is the West gradually losing Africa?

Devastating storms like Hurricane Florence ‘unusual this far north’: UN weather agency

How civil society must adapt to survive its greatest challenges

What washing your hands can teach you about global change

EU countries invested €5 trillion abroad

Why Microsoft is a regular to Almunia’s

AIESEC @ European Business Summit 2015: The power of an individual and how we can awaken Europe’s Youth

Where are people most proud to be European?

Brussels terrorist attacks: Schengen in danger once again while leaders gather Europe’s multiple broken pieces

Can the world take the risk of a new financial armageddon so that IMF doesn’t lose face towards Tsipras?

Paris agreed with Berlin over a loose and ineffective banking union

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