The CCCEU's comment on the EC's announcement to close its in-depth FSR probe into CRRC Qingdao Sifang Locomotive Co., Ltd.

March 26, 2024, Brussels

On March 26, China Chamber of Commerce to the EU (CCCEU) received a media inquiry concerning the European Commission's announcement to close the first Foreign Subsidies Regulation (FSR) in-depth probe into CRRC Qingdao Sifang Locomotive Co., Ltd. Kindly see below for the chamber's response.

The CCCEU: The chamber takes note of the European Commission's announcement to close its FSR probe into CRRC Qingdao Sifang Locomotive Co., Ltd., citing the company's withdrawal from a public procurement tender organised by the Bulgarian Ministry of Transport and Communications.

While we sympathise with the Chinese company's decision, it's crucial to highlight that this episode adds to the evidence suggesting the EU side has wielded the FSR as a new tool to deter foreign companies, coercing them into withdrawal and subsequent business exclusion.

We express deep concern regarding the non-market-based exclusion faced by Chinese companies and strongly urge the EU to uphold principles of fairness and transparency, ensuring an equitable business environment for Chinese enterprises in the EU market.