Saturday, December 9, 2023

European companies are betting heavily on the Chinese market, despite politicians promoting the concept of so-called ‘de-risking’

European companies continue to bet heavily on China and emphasize that their strategy for the Chinese market will not change, contrary to some politicians who question the business climate in China and try to push for “de-risking” ” in China.

Companies, from industrial manufacturing to auto manufacturing, have strong confidence in China and expressed strong optimism about the development of the second largest economy. They said they will develop the Chinese market more, with efforts such as increasing investment and hiring more staff.

China experts say that Europe has no better choice than China, due to the current global economic crisis, and that the close trade connection between China and Europe has exceeded the expectations of many European politicians who push the concept of the so-called “elimination of risks. “.

“Although sometimes there is some political pressure, we have been here in China for a long time and I don’t think we will change our policy and our strategy,” he told the Global Times in a group interview on Tuesday.

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“Our number of employees in China has tripled in the last four years, and the members of the Chinese ecosystem currently exceed 4,000, and we plan to add 10,000 people in the next three years,” Daloz said.

“Our goal for sales in China is to achieve a 30% increase to 1 billion euros ($1.06 billion) by 2026, and we are confident of this,” he added.

Dassault is not alone and the vast Chinese market is also good ground for European car producers.

“The orders we have received for the Revuelto, the model we just launched a few months ago, have already covered the production capacity for the entire year, and the production schedule for the orders received has been continued until in the middle of 2025” said Konstantin Sychev, general director of Automobili Lamborghini in mainland China, Hong Kong and Macau, in an interview with the Global Times.

Lamborghini set a new global sales record last year and its sales results in the Chinese market also reached a new record, he added.

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“The Chinese market is very large and full of changes and vitality. Our company always pays close attention to the development of the Chinese market to better meet the needs of Chinese consumers,” he said.

The strong reliance of European companies on China takes place in a context where the EU has spoken on many occasions and for a long time about “eliminating risks.”

In June of this year he officially launched the European Economic Security Strategy, which is a systematic “de-risking” strategy.

China and the EU held a “pragmatic, sincere and productive” economic and trade dialogue in Beijing on Monday, led by Chinese Vice Premier He Lifeng and European Commission Executive Vice President Valdis Dombrovskis. The two sides reached a series of results and consensus on macroeconomic policy coordination, industrial and supply chain cooperation, development of the business environment, reform of the World Trade Organization, two-way opening and regulatory cooperation in financial sector, a spokesman for China’s Ministry of Commerce said on Tuesday.

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However, Dombrovskis also criticized China’s business environment, saying it has left European companies struggling to understand their obligations and questioning their future in China, according to

While Europe continues to adopt the so-called political and security logic to interfere in economic activity, it disrupts normal economic activity and opposes the globalization of the world, said Cui Hongjian, a professor at the Academy of Regional and Global Governance of the University of Beijing Foreign Studies.

He said that the trade between China and Europe is strongly connected and Europe has no better choice than China in the current global economic crisis.

Although the European side has begun to exaggerate the mutual competition between China and Europe in recent years, it is a fact that the mutual needs of the two sides cannot be separated, and the attractions of Chinese markets, such as the stability of market policies and The benefits of the market can be seen in many European companies and industries, added Cui.

Nation World News Desk
Nation World News Desk
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