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China Backs Automaker Investment in Europe
22 Sep
Summary
- China supports its automakers investing in European factories.
- Minister Wang urged dialogue to resolve auto sector issues.
- Protectionism and market closures are concerns for China.
China is encouraging its automakers to pursue investment opportunities within Europe, as stated by Commerce Minister Wang Wentao. He emphasized the need for dialogue and consultation to address automotive sector issues constructively.
Minister Wang communicated this stance during recent meetings with industry representatives from Germany and Europe. He highlighted that China wishes to avoid protectionist measures that could lead to market closures worldwide.
This support for European investment coincides with Chinese automakers scouting factory locations on the continent. It also occurs while China faces scrutiny regarding its hybrid vehicle exports to Europe.
Additionally, China welcomes European automakers, such as Mercedes-Benz, to enhance their investments and innovation partnerships within China, as conveyed in a separate discussion with the company's CEO.
