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EUCCC: European companies in Guangdong tend to be more profitable than the rest of China

2016-September-12       Source: Newsgd.com

"The member companies from in South China tend to be happier to the rest. And it also tend to be more profitable to the rest." Mr. Alberto Vettorett commented about Guangdong's performance in the past year.


"The member companies from in South China tend to be happier to the rest. And it also tend to be more profitable to the rest." Mr. Alberto Vettoretti, the Chairman of South China Chapter of European Union Chamber of Commerce in China (EUCCC) commented about Guangdong's performance in the past year at the launch event of the latest Position Paper in Guangzhou on Thursday.

"Compared to Beijing and Shanghai, the factory base in Guangzhou could be more competitive." He said. He said Guangdong has pushed the province to be more innovative because of the global economic crisis and the paper has indicated European Companies in Guangdong have adapted the economy crisis.

He praised that "Guangdong government really did a great job." "The government in Guangdong saw the crisis, and at time to adapt. So, the government push the manufacturing base to be more efficient. And there's also the fact that new regulation to ease, especially in the business environment.

In terms of the new regulation for foreigners using fingerprint to cross border between mainland and Hong Kong, Mr. Vettoretti said it is great for integration of Pearl River Delta., bringing cities like Hong Kong closer to the largest metropolis of the world.

The European Business in China Position Paper represents the view of the European Union Chamber of Commerce in China. There are more than 1,600 member companies have together compiled the latest assessments, concerns and recommendations of European businesses operating in China.

This year's Position Paper outlines how the recent increase in investment into Europe has highlighted the sharp imbalance in market access European companies face in China. Chinese companies have successfully completed a number of eye-catching deals to acquire leading European companies in a wide range of areas—including banking, automotive, robotics and critical infrastructure — yet European business is still heavily restricted from making similar investments in China.

The European Chamber therefore continues to advocate for the necessary market-orientated reforms to be pushed through, without further delay. "Finalising an EU-China Comprehensive Agreement on Investment in 2017, which provides full reciprocity through an ambitious market-opening component, is an essential part of the reform agenda," said Mr. Wuttke, President of European Union Chamber of Commerce in China.

Editor: Chan

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