Chongqing - The European Chamber of Commerce in China (Southwest) released The European Business in China Position Paper 2022/2023 in Chongqing on February 16, compiled by its 41 working groups and sub-working groups over six months. It is the European Chamber's most important publication and the cornerstone of its annual advocacy plan.
The Position Paper contains 967 constructive recommendations for its enterprise members, illustrating the depth of European companies' challenges in China and their commitment to improving the business environment. Although 2023 is a challenging year for businesses worldwide, European enterprises are willing to work with China through thick and thin to deepen Sino-Europe cooperation.
The Press conference for The European Business in China Position Paper 2022/2023 was held in Chongqing on February 16 (Photo/Liu Dan)
Optimized Covid response facilitates economic and trade exchanges
Since the outbreak of COVID-19, China has constantly optimized and adjusted its epidemic prevention and control measures in light of the time and situation. Although some of the measures have impacted production and life, the impact is short-term and for the sake of the Chinese people. Overall, China has significantly contributed to maintaining the stability of global industrial and supply chains and promoting global economic recovery. Massimo Bagnasco, vice president of the European Chamber and chair of the Southwest China Chapter, praised China's optimized Covid response in the interview after the press conference, saying, "it has facilitated economic and trade exchanges, innovation, and cooperation."
To help unlock the potential of the Southwest region
Massimo Bagnasco said this strategy would significantly impact both cities' business development when asked about constructing the Chengdu-Chongqing economic circle. Ensuring effective communication between the local government and the industries is essential to enhance the Chengdu-Chongqing economic circle's economic vitality and business competitiveness. He said, "EU Chamber of Commerce in China Southwest looks forward to active cooperation with all parties to help unlock the development potential of the Southwest region."
A photo of the Press conference for The European Business in China Position Paper 2022/2023 in Chongqing on February 16 (Photo/CQNEWS.NET)
Massimo Bagnasco also stated that the European Chamber of Commerce in China look forward to various investment opportunities in China, but at the same time, they look forward to the continuous improvement of the business environment in China and seek investment opportunities in more areas. Massimo stressed that "with advanced technical knowledge and rich experience, European companies will actively cooperate with the Chinese government to achieve carbon peak and carbon neutrality."
Action needed to further improve the business environment
European businesses were deeply worried before China released the optimized covid response measures as "the rest of the world has largely resumed pre-pandemic levels of normality." Travel restrictions curbed flying in and out of China and inhibited people-to-people exchanges. Both inevitably led to less understanding of this country.
As stated in the Position Paper, while those who already established their presence in China were not looking to leave, there was increasing consideration of the possibility of shifting planned investments to other markets due to weak domestic demand and supply chain disruptions. Even though the European Chamber wants to help China fulfill its enormous economic potential, "action from Chinese decision-makers" is needed to improve the business environment further and promote constructive dialogue.