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E-mail Xinhua, December 10, 2024
This photo taken on Dec. 9, 2024 shows the releasing ceremony of a report by the China Chamber of Commerce to the EU (CCCEU) and global consultancy Roland Berger in Brussels, Belgium. [Photo/Xinhua]
Chinese firms remain cautiously optimistic about the EU market amid rising policy uncertainty, according to a report released on Monday by the China Chamber of Commerce to the EU (CCCEU) and global consultancy Roland Berger.
Ninety percent of surveyed Chinese firms in the EU say that the adverse effects of EU policies focused on "economic security" and "de-risking" are undermining business confidence, the report said.
In sectors such as electric vehicles, anti-subsidy investigations have prompted over 30 percent of firms to adjust their investment plans, the report said.
Despite the challenges, Chinese firms expressed cautious optimism about the EU market. Around 21 percent of the surveyed companies consider the EU their most important market outside China, and 66 percent expect its strategic importance to grow over the next one to three years.
More than half of respondents remain positive about the medium- to long-term prospects for China-EU trade and economic relations, particularly in areas like green cooperation. Enhanced collaboration, they said, could accelerate the EU's digital transition, advance AI applications, and strengthen industrial supply chain complementarities.
Noting that the EU and China remain important for each other amidst geopolitical shockwaves, Denis Depoux, global managing director at Roland Berger, said it is hoped both sides could understand each other's concern and drive the resolution of some issues through new strategies and rebalanced environments.
Chairman of the CCCEU, Liu Jiandong, highlighted the strong economic ties between China and the EU, with daily trade exceeding 2 billion euros (2.11 billion U.S. dollars) in 2024. At Monday's event, he emphasized Chinese firms' contributions to EU tax revenue, job creation, and innovation through research, design, and production facilities across the region.
"With the 50th anniversary of China-EU diplomatic relations approaching in 2025, we are willing to join hands with European partners to inject new vitality and momentum into the long-term development of China-EU relations," Liu added.
