www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

USEUROPEAFRICAASIA 中文雙語Fran?ais
China
Home / China / Focus

Europe more open than US, says chamber chief

By Andrew Moody | China Daily Africa | Updated: 2014-02-21 08:29

Europeans still remain nervous about the Chinese taking over their companies, according to a senior European business figure in China.

Davide Cucino, president of the European Union Chamber of Commerce in China, says many European companies would opt to be taken over by another European, or US, company rather than a Chinese one.

"I have to tell you frankly that when there are deals involving rival bids, a company might prefer to sell to another European business rather than one from China," he says.

Cucino, who heads China operations for Finmeccanica Group, the leading Italian engineering conglomerate, says it was wrong to assume that it was only the US that was wary about Chinese investment.

"There still remains a feeling of uncertainty when considering an investment that comes from China. You have the unions, government leaders and the consensus of public opinion that are reluctant to see beyond the negative aspects to see the positive side of these investments."

Cucino, who was speaking in the chamber's offices in Lufthansa Center in Beijing, says the Chinese government was right to target increasing ODI since it was important that China had more global companies.

He points out that many of the current 89 Chinese companies in the latest Fortune 500 list conduct most of their business in China.

"China wants to create more national champions. If you look at some of the companies among the biggest 500, some of have a very minor international element. They are there because of their size but they have the potential to become more international."

The chamber president says that ODI is a way for Chinese companies to build the expertise to become more globally competitive.

"They need to understand about governance, learn new skills and be more prepared for the pace and challenges of international markets."

Cucino, who has been in China for 26 years, says that a lot of Chinese ODI is still "under the radar" with Chinese companies taking stakes in small and medium-sized enterprises and buying up research and development arms of businesses.

"Many of these are not big companies but they often have the sort of high-end technology that Chinese companies don't own yet. There are also a lot of companies in Europe with good products but are not in good financial shape because of the financial issues that are happening in Europe.

"Chinese companies also have the strength and power to offer a high price when they do a deal."

Cucino does, however, believe there is the potential for Chinese companies to do much bigger ODI deals over the next five to 10 years.

"Europe from this point of view is much more open than the United States and that is why there is more potential for huge deals and investments.

Cucino adds, however, that while some countries like the UK are open to Chinese investment in infrastructure projects such as the HS2 high-speed rail link from London to Birmingham, other countries are more wary.

"There have been a number of examples where countries have been worried about investments in infrastructure and utilities but I think there will still be a trend for these to be done."

He says some infrastructure projects have proved too difficult for Chinese companies. China Overseas Engineering Group withdrew its participation in a $447 million (325 million euros) highway construction project in Poland after incurring heavy losses in 2011.

"In the end it had to withdraw because of the fickle nature of the environment they found themselves in order to carry out this deal," he says.

Cucino says it was wrong to focus on China's increasing ODI without taking account the evolving nature of FDI into China.

He says European and other investors are no longer looking to invest in low-cost manufacturing but are looking to establish research and development facilities and set up ventures to access the Chinese market.

"I don't think there is any stopping the flow of investment. In the last few years we might have had a reduction in terms of volume but that was more linked to the financial crisis and not any loss of interest in China.

"A lot of companies are now clearly interested in the China market and the potential of increased consumption."

Cucino says there are still opportunities for European companies supplying machinery for Chinese low-cost manufacturing, although it is often taking place in other parts of Asia.

"Many Chinese companies are basing labor intensive manufacturing in third-party countries like Vietnam, Cambodia and Laos but this still provides European companies with opportunities for European investment with machinery and technology."

He says the Chinese government's strategy is to move the economy toward the service sector, including financial services.

"The UK is very advanced in this context. It has a very well-developed service sector and we have seen over the past two years not only UK companies coming to China but Chinese companies going to the UK to learn about financial services.

Cucino believes the Shanghai Free Trade Zone, launched in September last year, could prove a vital catalyst for foreign investment in services.

He would like to see more sectors taken off the so-called negative list and a clearer framework of rules and regulations.

"It is so far slow but it is going. I think there is a clear direction in developing the zone. There are a lot of sectors still closed, however, to foreign investment.

"A lot of companies want to be involved but they are not clear about the rules and regulations and these need to be set in play."

 

Editor's picks
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 国产精品视_精品国产免费 国产精品视频久 | 国产精品黄色片 | 国产午夜免费福利红片 | www.色片| 亚洲qingse中文久久网 | 亚洲综合干| 欧美精品一区二区三区免费 | 欧美人成毛片在线播放 | 韩国一级片视频 | 欧美亚洲一级片 | 99re国产视频 | 99精品在线观看 | 亚洲欧美视频一级 | 国产a国产 | 亚洲一区二区三区精品国产 | 国产成人a福利在线观看 | 国产中文字幕在线免费观看 | 毛片毛片毛是个毛毛片 | 99久久久免费精品免费 | 夜色1网站| 欧美怡红院免费的视频 | 亚洲精品视频在线观看视频 | 国产国产人免费视频成69堂 | 精品国产欧美一区二区五十路 | 国产视频合集 | 经典国产乱子伦精品视频 | 国产亚洲精品高清在线 | 91久久亚洲最新一本 | 在线观看精品国内福利视频 | 亚洲国产激情一区二区三区 | 久久一本精品久久精品66 | 久草视频福利在线 | 国产香蕉尹人综合在线观 | 亚洲精品线在线观看 | 欧美成人鲁丝片在线观看 | 九九免费在线视频 | 免费人成网站免费看视频 | 日本黄色大片在线播放视频免费观看 | 国产午夜亚洲精品国产 | 欧美成人久久 | 一级毛片不卡免费看老司机 |