EU businesses remain highly committed to China as nation vows to continue efforts toward further opening-up

China will continue to firmly promote high-level opening-up, create a market-oriented, rule-of-law and internationalized business environment, and provide more opportunities for enterprises from all countries, including EU members, said Mao Ning, spokesperson of China's Ministry of Foreign Affairs, at on Wednesday commenting on a position paper published by the European Union Chamber of Commerce in China. 

China remains, and will continue to be, a crucial engine driving global economic growth and a promising land for investment and business ventures from around the world, Mao further noted.

The remarks were made in response to a media request for comment on the European Business in China Position Paper 2024/2025 published by the European Union Chamber of Commerce in China (European Chamber) in Beijing. The latest position paper collected responses from more than 1,700 member companies of the chamber operating in China.

EU businesses remain highly committed to China, Jens Eskelund, president of the European Chamber, said at the launch of the position paper on Wednesday, indicating the importance of the Chinese market to many companies from the bloc.

The potential of Chinese market remains attractive, Eskelund told the Global Times, noting that China still has supply chain efficiency, and within many sectors, the technologies and efficiencies in China are very hard to find elsewhere.

The chamber head also mentioned several important efforts that the Chinese government has made, and how these efforts may inspire foreign businesses, including those from the EU.

European firms' perceptions of the Chinese business environment might be changing, yet they still have a shared interest in China's continued success, the chamber said.

Efforts have been noted in several areas including human resources and business travel, where the chamber said that "there was an early, welcome breakthrough with the extension of China's preferential individual income tax policy for foreign nationals, and the waiving of visa requirements for citizens from several EU member states."

The chamber also mentioned several other areas where the Chinese government's efforts have been noticeable including the digital and cyber areas, access to green energy, and investment promotion and facilitation in China.

While acknowledging the efforts of the Chinese government toward opening-up, the European Chamber's position paper was also filled with concerns such as China's "economic slowdown" and "overcapacity" in certain industries, claims that Chinese experts said do not "fully reflect the complete picture of China's current development."

"In recent years, due to changes in the external environment, China's economic development has indeed faced some challenges... there is also the background of China's overall economic transformation, including industrial upgrading and the elimination of outdated capacity," Cui Hongjian, a professor at the Academy of Regional and Global Governance at Beijing Foreign Studies University, told the Global Times on Wednesday, noting that during this economic transition period, there might be some impact on European businesses.

However, Cui noted that it is essential for EU companies to evaluate China's overall environment and development with a reasonable and long-term perspective.

"The Chinese market remains one of the most stable and highest-return markets for European companies, and this is undeniable," Cui said.