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China's reform raises EU companies' expectations

2014-November-6       Source: Newsgd.com

European industry has faith that China can again replicate reformist successes of 1990s,according to the European Union Chamber of Commerce in China.

Guangdong understands business needs

Compared with other provinces or regions in China, Guangdong Province, economic power engine in South China has its own advantages and problems.

When received an interview with Newsgd.com, Jörg Wuttke said, “Guangdong has started its acceleration because Hong Kong is in its front door. Hong Kong was revealed as the precipitator of change.” The cultural universality between Guangdong and Hong Kong is the first advantage of Guangdong in developing business. For most foreign companies, Guangdong provides another platform, which is quite similar to Hong Kong, to develop business.

“The second advantage is that Guangdong has grown in its structure over time. For example, Government structures, easy to do business and more understanding in business need.” Jörg Wuttke continued. “People know how to attract business and how to help investment come in.”

Although Guangdong meets some problems during the industrial transformation, which is “the competition for both local and foreign enterprises,” Jörg Wuttke said. He is confident in the development prospect of the cooperation between European Union and Guangdong Province.

“Guangdong of course is suffering the old other issues affecting China, which are RMB appreciation, the rising local labour cost and regulation etc.. I think it is an ongoing process and it will take time. But I believe if you are the manufacturer, been here is right choice.” Alberto Vettoretti, the Board Chairman PRD Chapter of EU Chamber of Commerce in China added.

Jörg and Alberto also believed that the industrial transformation brought Guangdong less pollution and a better business environment, attracted more investment to this flourishing province. (By Olivia & Ken)

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Editor: Yan

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