Chinese business group warns EU’s new industrial rules risk harming trade and market openness, calling the proposal exclusionary and protectionist.

BRUSSELS: A leading Chinese business group has criticised a new European Union industrial plan, labelling it a protectionist shift that threatens economic cooperation.

The Chinese Chamber of Commerce to the EU expressed “serious concern and opposition” to provisions in the proposed “Industrial Accelerator Act”.

It argued the current design “risks shifting toward a more exclusionary and protectionist framework”. The chamber warned the rules could have far-reaching implications for market openness and fair competition.

The EU proposal sets new conditions for companies seeking public funds in strategic sectors like cars, green tech and steel. Firms must meet minimum thresholds for using EU-made parts to qualify for support.

The plan implicitly targets Chinese manufacturers of batteries and electric vehicles. It requires foreign firms to partner with European companies and share technological know-how when operating within the bloc.

The European Commission stated the package aims to reverse industrial decline and prevent hundreds of thousands of job losses. European businesses have long complained about unfair competition from heavily subsidised Chinese rivals in these sectors.

 The Sun Malaysia