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World

E.U. lobby warns China of investment backlash

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Opening sequence

World

E.U. lobby warns China of investment backlash

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COMING UP:E.U. lobby warns China of investment backlash

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Transcript

00:00:00
>> Season where we'd be have the position->> Highly disappointing and not politically sustainable. Strong words from the EU's chamber of commerce in China on Thursday in its annual report. The group says Beijing need to open its markets significantly to foreign investors. And as Reuters Micheal Martin reports, it could face a backlash if it doesn't.
00:00:20
>> Chinese leaders have repeatedly pledged to carry out market reforms and improve access for foreign companies. But business groups argue that the momentum behind those reforms has all but stalled. In some cases we're seeing movement in the opposite direction. There's a growing sentiment within Europe that China cannot expect continued largely unfettered access for its companies in the EU if it doesn’t reciprocate in allowing European countries to invest in China.
00:00:47
>> For its part, China has been unhappy with certain deals in the West. Like the delay of a $24 billion nuclear project in Britain led by Chinese investors. Beijing says that smacked of protectionism. But the EU Business Lobby says that foreign investors trying to put money into China often to deal with far bigger hurdles.
00:01:06
Beijing is no stranger to brushing off criticism from the West. But this report comes at an awkward time with the worlds most powerful leaders all heading to China this week.>> The chamber is obviously well aware of the G20 summit where issues of protectionism and overcapacity are likely to weigh heavily at the agenda.
00:01:25
And it no doubt sees this as a opportunity to join in and to a degree to help shape the discussion among leaders there>> As far as Western powers are concerned, that discussion will be relatively simple. China's been on an overseas spending spree for years, but unless it's prepared to embrace investment from abroad, its windows into European markets could soon start getting smaller.