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President of the Chinese chapter of the European Union Chamber of Commerce Joerg Wuttke criticises China's protection of key industries and high barriers of entry for foreign companies. (Photo provided by the chamber)
Economy

EU lobby slams China's 'equal treatment' for foreign companies

Beijing's manufacturing initiative seen as 'highly problematic'

MARIKO TAI, Nikkei staff writer | China

BEIJING -- The reality of China's off-limits market does not reflect Beijing's pledge of "equal treatment" for foreign enterprises, and its promotion of domestic manufacturers could distort the global market and cause job losses, the president of the European Union's business lobby said Tuesday.

The EU Chamber of Commerce expressed growing concern with Beijing for its practice in "a consistent approach to industrial development driven by political masters, not [the] market," the group said in a statement Tuesday. Such an approach is especially felt in technology-driven sectors including information technologies, new energy buses, medical devices and biopharmaceuticals which "remain largely closed to foreign suppliers," said Joerg Wuttke, president of the Chinese chapter of the chamber.

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