- Interview on EU Foreign Subsidies Regulation
- Oscar wins an encouragement for immigrants
- Sinolytics.Radar: Taiwan’s exports to China increase
- Beijing criticizes submarine deal
- Biden to meet Xi
- Retirement age to be raised
- Opinion: IfW on Germany’s China strategy
Brussels is working on a raft of new directives and regulations to strengthen its own economy and the EU’s single market against China. With the regulation against market-distorting foreign subsidies, the EU plans to prevent – among other things – Chinese companies from benefiting from financial aid from Beijing.
In principle a good idea, according to Swiss antitrust/competition law expert Adrian Emch. However, he believes that Brussels has not fully thought it through. “The effort will probably be greater for EU companies than for non-European businesses,” explains Emch in an interview with Frank Sieren. The term “financial contribution” is broadly defined in the wording of the law and could thus also affect EU companies, the business lawyer warns.
Michelle Yeoh was the shining star at the Oscars in Los Angeles. With her portrayal of a Chinese-born laundromat owner in “Everything Everywhere All At Once“, Yeoh also made an impact in China – even though the movie was not released in cinemas. On Weibo, female users in particular celebrated the success of the 60-year-old and other cast members. Gregor Koppenburg took a closer look at what the movie means to Asian immigrants in the United States and why it was not shown on the big screen in China.
Amelie Richter
Interview
‘The EU regulation against state subsidies has flaws’
Mr. Emch, what do you think of the new EU regulation against distortion of competition through foreign state subsidies?
What Brussels is doing is understandable. The EU is extending what already applies within the EU, i.e. the ban on state aid, to the whole world. However, the effects of the regulation, as it is formulated, have not been thought through to the end. It has significant flaws. The compliance burden will probably be greater on EU companies than on non-European companies.
For a start, is the underlying idea not correct that the EU wants to protect its single market from companies that benefit from market-distorting subsidies from non-EU countries?
Continue reading now
… and get free access to this Professional Briefing for a month.
Are you already a guest at the China.Table? Log in now