The China Chamber of Commerce to the EU and the Research Department of Foreign Economic Relations of the Development Research Centre of the State Council (DRC) jointly organized a seminar on May 29, asking CCCEU members to share observations on their businesses' prospects in Europe, which has been severely affected by the COVID-19 pandemic. 

More than 10 business representatives across Europe were concerned about the disruptive effects of the pandemic on their business activities and increasingly strict and complicated investment screening procedures at the European Union and member-state level. Some urged to be treated on par with local businesses to benefit from fiscal and taxation support from the European governments.

The businesses pledged not to cut jobs at this critical time. A few Chinese businesses shared their successful experience in winning trust and obtaining fair treatment in the European market. 

Xia Xiang, Minister-Counsellor for Economic and Commercial Affairs at the Chinese Mission to the EU, addressed the seminar, saying Chinese businesses face "unprecedented challenges" in Europe as the business ecosystem has been disrupted by the pandemic, and the EU economy has entered into deep recession.

"I appreciate that researchers of renowned think tanks, such as the DRC, can give voice to our business representatives and help them resolve some problems at the policy level," said Xia. 

Zhang Qi, Director-General of the DRC's Research Department of Foreign Economic Relations, thanked the businesses for their sharing observations, opinions and suggestions. "It is not easy for our businesses because, at this historically critical moment, they must put in extra efforts for business operations, while working hard to maintain cooperation at the people-to-people level," said Zhang. 

With the international system being reshaped in the aftermath of the COVID-19 pandemic, Zhang said it is vital to forge healthy development of the Sino-EU strategic partnership. "My team is very keen to work together with the CCCEU and Chinese businesses to help achieve this goal," said Zhang. 

Echoing Zhang's suggestion, Zhou Lihong, the CCCEU chairperson, said the chamber will team up with Zhang's think tank to scale up development of the Sino-EU economic and trade partnership. 

Zhou said Chinese businesses, together with European partners, are suffering from the COVID-19 pandemic, which is the fourth crisis after the financial crisis, the euro crisis and the refugee crisis in Europe since 2008

"The crisis and recession are unprecedented, and complexity and uncertainty are rising day by day," said Zhou. 

"We hope Chinese and European leaders inject stronger political will to stabilize the bilateral partnership, strengthen economic cooperation and boost trade flows by quickly restoring supply and value chains."