Well-known Chinese news site Sina recently reported that the European Union’s Chamber of Commerce just released its annual report on the state of the EU-China business relationship. In its report, the Chamber questioned how trustworthy China will be in keeping its promise to let the market play a decisive role in the economy. The report warned that the Communist country must speed up on the delivery of its promise of reform or the world’s second largest economy will see a landslide in its growth rate. The Chamber suggested that “the golden age of doing business with China is about to end.” The report expressed the belief that the window of opportunity for rebalancing the Chinese economy is closing. In the meantime, the Chamber had doubts about whether, during the process, foreign companies will be treated fairly or not. It also expressed concern about the role that state-owned companies will play. The Chamber’s report from last year already showed that only 44 percent of the EU companies saw a growth in their profits in China.
Source: Sina, September 10, 2014