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

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

Subsidiarity and Proportionality: Task Force presents recommendations on a new way of working to President Juncker

Password managers aren’t all they’re cracked up to be. Here’s why

4 steps to developing responsible AI

Gender equality: an issue much talked about but less acted upon

New UN data tool shows ‘mismatch’ between government aid and places modern slavery exists

How Cameron unwillingly helped Eurozone reunite; the long-term repercussions of two European Council decisions

3 charts that show the economics of European football

A Sting Exclusive: “Paris is indeed our best bet for a secure climate future”, EU Commissioner for Environment Karmenu Vella cries out from Brussels

Plants, the ‘core basis for life on Earth’, under increasing threat, warns UN food agency

An American duel in Brussels: Salesforce against Microsoft over Linkedin deal

How to build a paradise for women. A lesson from Iceland

WEF Davos 2016 LIVE: “Chinese economy has great potential, resilience and ample space for policy adjustment”, China’s Vice President Li Yuanchao reassures from Davos

I’m not feeling lucky: The “Right to Be Forgotten” ruling puts Google inside a box

This city is planting a tree for every man, woman and child

Climate adaptation could make the world more peaceful

A Sting Exclusive: “Leading by example! EU must push for UN deal to avoid dangerous climate change”, European Parliament Vice-President Ulrike Lunacek cries out from Brussels

Everybody against Japan over yen’s devaluation

Violence against women a ‘mark of shame’ on our societies, says UN chief on World Day

Tackling terrorism: MEPs approve tighter rules on homemade explosives

Nowhere is safe to hide in war-torn Yemen, say UN-appointed rights experts

Chile ups foreign bribery enforcement but flawed case resolutions are insufficient to ensure transparency and accountability

Nearly a third of the globe is now on Facebook – chart of the day

“A sustainable economy, low-carbon, resource-efficient, resilient and more competitive on the global stage”, EU Commissioner Vella in a Sting Exclusive

The Monetary Union drives Europe into dangerous paths, CoR demands an EMU of regional content

How do we build a #sustainableworld?

Monsanto lawsuit ruling a ‘significant recognition’ of victims’ human rights, say UN rights experts

Ramp up nuclear power to beat climate change, says UN nuclear chief

“They are trying to make improvements, but of course they are quite slow for my generation”, Vice President of JADE Victor Soto on another Sting Exclusive

UN agencies ramp up Somalia measles and polio campaign

International trade statistics: trends in third quarter 2019

High level political talks didn’t break the stalemate in Ukraine

‘Amid stormy global seas, UN charter remains our moral anchor’, says Guterres on United Nations Day

E-energy declaration: will energy digitalization be beneficial to the climate?

What living abroad does to your self-awareness

Germany and Europe prepare for Trump’s America

To retire at 65, American millennials need to save almost half their paycheck

GSMA Announces First Keynote Speakers for 2019 “MWC Los Angeles, in Partnership with CTIA”

How LA plans to be 1.6°C cooler by 2050

South Africa’s SMEs should be first in line for a digital upgrade

Eurozone needs more than some decimals of growth

Talking the talk: the voice-recognition disruptors looking to outsmart big tech

Four in five adolescents failing to exercise for even 60 minutes a day, UN health agency warns

Around 52 million in Near East, North Africa, suffering chronic undernourishment, new UN food agency report reveals

EU summit: Are the London Tories planning an exit from the EU?

For how long and at what cost can the ECB continue printing trillions to keep euro area going?

‘Counter and reject’ leaders who seek to ‘exploit differences’ between us, urges Guterres at historic mosque in Cairo

Migration and asylum: EU funds to promote integration and protect borders

A Sting Exclusive: “Stronger Cybersecurity for a safer EU against cybercrime and cyber threats”, by MEP Dalli

45th Anniversary of the French Confederation (Confédération Nationale des Junior Entreprises)

230 Junior Entrepreneurs and over 70 guests attended the International Congress on “Entrepreneurial Skills for Youth”

The representatives of the regions and the cities know better what the EU needs on migration, trade, poverty and taxation

The Fourth Industrial Revolution is about to hit the construction industry. Here’s how it can thrive

Tsipras imposes more austerity on insolvent Greece; plans to win new early election soon

Fleeing violence, Cameroonian refugee arrivals in Nigeria pass 30,000, reports UN refugee agency

Seaweed, enzymes and compostable cups: Can ‘Big Food’ take on plastic and win?

Eurozone dignitaries play with people’s life savings

Across the world, women outlive men. This is why

Amid troop build-up in Rohingya’s home state, UN appeals to Myanmar for peaceful solution

Multiculturalism, social diversity and tolerance

Four million Syrian children have only known war since birth: UNICEF

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