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|BRUSSELS Wholesale Jerseys From China , Sept. 12 (Xinhua) -- The European Union (EU) is oncourse to make significant decisions regarding investment in thebloc's "strategic sectors" by non-EU countries.
European Commission President Jean-Claude Juncker is set toannounce measures to screen foreign investment, in response tocalls from Germany, France and Italy to vet Chinese companies'acquisition of European know-how. Juncker will be addressing EUlawmakers on Wednesday in Strasbourg in his state of the unionspeech.
The details of the executive body's measures are yet to berevealed, but the scope of the policy is likely to change Chineseinvestors' future interest in European assets as well as economicand trade ties between Brussels and Beijing, which already souredover overcapacity in steel sector and mounting tit-for-tatdefensive trade practices.
Brussels's move comes as the past few years have witnessed asurge of input from the world's second largest economy. Chinesecompanies showed growing interest in European assets in a bideither to diversify their overseas investment or advance theirvalue chains.
It should be noted that total Chinese investment in thecontinent, although it increased rapidly Wholesale Jerseys China , was still dwarfed by theUnited States, the EU's top investor. EU data showed that the totalU.S. investment in the bloc was three times higher than all ofAsia.
Oddly enough, Europe sent both welcoming and hostile messagestowards burgeoning Chinese investment in the bloc. On one hand,Chinese funds were hailed for injecting momentum into capital-shortEuropean companies, while on the other hand, stereotypes andprotectionism prompted fears on the continent to Chinese companies'presence.
The idea of curbing Chinese investment emerged dramatically inthe wake of the landmark takeover of leading German robot makerKuka by China's Midea Group. Although the multi-billion-euro bidgained the green light from German authorities and EU competitionregulators last year Wholesale Jerseys , it worried those in Europe who were desperateto keep high-end technology at home.
Germany, joined by France and Italy, reportedly petitioned theEuropean Commission to make it possible for member states to blockpolitically-motivated deals in strategic sectors. At June's EUsummit, European leaders agreed to let the commission analyze suchdeals.
The EU aims to close a gap in its economic policy instruments todevelop a coherent European internal market, said Gerhard Stahl, aprofessor at Peking University's HSBC Business School and theCollege of Europe.
Currently Cheap NFL Football Jerseys , 13 of the 28 EU member states have establishedsystems to screen investments and takeovers. Stahl said thesenational systems could conflict with the objectives of the internalmarket and the principle of non-discrimination of EU foreigninvestors.
But as for Chinese investment, the EU seems to go far beyondestablishing a common rule. "The patience with China is wearingthin and there will be calls for more reciprocity," Daniel Gros,director of the Centre for European Policy Studies, toldXinhua.
It will be no surprise that the Commission, if it decides toplay tough with Chinese investors Cheap Football Jerseys , would risk hurting the continentin turn, particularly at a time when Europe is still struggling toachieve growth in the aftermath of the financial and debtcrises.
In its fifth year of recovery, the bloc saw some positive signsin economy this year as gross domestic product (GDP) growthaccelerated better than expected, but the inflation and joblessrate stayed embarrassingly off target.
The eurozone is still strong and about as large as China, butChina continues to grow, whereas the eurozone will probably face along period of relative decline as its populations shrinks Cheap Nike NFL Jerseys , Groswarned.
By launching the 315-billion-euro (376 billion U.S. dollar)"Juncker Plan," the incumbent Juncker Administration has madepromoting investment one of its priorities since taking office.China, on the other hand, played a supportive role.
In June, the two sides agreed in Brussels to jointly invest 500million euros to support companies located primarily in the EU.
"If the European Commission moves to tighten Chinese investmentin the EU, it would be a confusing signal and depressing news forus Cheap NFL Jerseys Free Shipping ," said a government affairs manager at a branch office of aChinese company based in Brussels who spoke on condition ofanonymity, citing the sensitivity of the issue.
"The business environment in EU would worsen and Brussels wouldface a policy dilemma: being tough on foreign investment takes atoll on its own growth," the manager added. (1 euro = 1.19 U.S.dollars) Enditem
China’s Ministry of Industry and Information Technology (MIIT) is formulating a timetable to end the production and sales of traditional fuel cars in a bid to promote the development of electric vehicles, according to a MIIT official.
The move is seen as a step to join France, Britain, and other countries to announce plans to end sales of petrol and diesel cars Cheap NFL Jerseys From China , Xin Guobin, deputy minister of the MIIT, said at an auto industry forum held from September 8 to 10 in north China’s Tianjin.
Xin said the MIIT is currently working with other departments to formulate administrative guidelines, which will be released soon.
The Netherlands was the first country to set a clear timetable to ban the sales of petrol and diesel automobiles. Britain recently announced it will end sales of traditional fuel cars by 2040, mainly to reduce air pollution.
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