Chinese companies still see promise in EU despite de-risking – survey
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Most Chinese companies operating in the European Union are feeling a pinch from the bloc’s de-risking strategy, but still see more opportunity than challenge in Europe’s green and digital transitions, according to a survey published on Tuesday.
The survey for the China Chamber of Commerce to the EU, conducted by consultants Roland Berger, gauged the views of 180 Chinese enterprises in the EU, including telecoms and smartphone companies Huawei and ZTE, electric vehicle maker BYD, COSCO Shipping and China’s largest banks.Their overall rating of the EU‘s business environment fell for the fourth consecutive year, with views of the political landscape declining most steeply.Some 72% of respondents said their business operations had been negatively impacted by the EU‘s de-risking strategy, particularly semiconductor and telecoms suppliers. The strategy partly seeks to reduce EU dependence on China, especially for minerals and products required for its green and digital transitions.China processes nearly 90% of rare earth elements and 60% of lithium globally and has announced export restrictions for other key materials – gallium, germanium and graphite.
