The China Chamber of Commerce to the European Union (CCCEU) on Wednesday condemned the EU for using its new Foreign Subsidies Regulation (FSR) as a tool of economic coercion.
The critique
"To date, the European Commission has launched three FSR in-depth investigations, all targeting Chinese enterprises," the CCCEU stated, expressing grave concerns over the probes.
The business group pointed out the broad and ambiguous definitions of key concepts listed under the FSR, stressing that the regulation would place undue burdens on companies, potentially lead to discrimination against foreign enterprises and "distort the level playing field for Chinese enterprises operating in the EU."
The CCCEU has urged the bloc to improve transparency, protect the rights of Chinese companies, and reduce barriers to investment, public procurement and business operation within the EU.
"It is imperative for the EU to establish a legal and market environment that is fair, transparent, and non-discriminatory towards Chinese enterprises," it added.
The Brussels-based CCCEU represents over 1,000 Chinese companies operating across the EU, with chambers in several member states.
