Recently Yahoo News on-line reported the following:
EU, China Give Political Nod to Market-Opening Investment
Pact
Jonathan Stearns
Bloomberg Wed., December 30, 2020, 9:32 p.m. PST
(Bloomberg) -- The European Union and China announced the political
approval of an agreement to open the Chinese market further to EU investors,
marking a major step in talks that began in 2013.
The breakthrough in negotiations on an EU-China investment
deal signals the bloc’s determination to focus on economic opportunities in
Asia even amid criticism of Beijing’s record on human rights. The accord could
enter into force in early 2022.
For the EU, the deal risks irking the incoming U.S.
administration, which has urged the Europeans to consult with them over China’s
economic practices. Failure by the U.S. and EU to forge a common position would
give Beijing an advantage as western leaders reassess geopolitical relations in
the wake of Donald Trump’s presidency.
“This
agreement is of major economic significance,” the leaders of the bloc’s two
main institutions, Charles Michel and Ursula von der Leyen, said in a statement
on Wednesday after a video conference with Chinese President Xi Jinping. “China
has committed to an unprecedented level of market access for EU investors,
giving European businesses certainty and predictability for their operations.”
The incoming U.S. administration under President-elect Joe
Biden has already signaled reservations about the deal. Jake Sullivan, Biden’s
national security adviser, on Dec. 22 called for “early consultations with our
European partners on our common concerns about China’s economic practices.”
An official in Biden’s transition team, who asked not to be
identified, said Wednesday the incoming administration looked forward to
consulting with the EU on a “coordinated approach to China’s unfair economic
practices and other important challenges.”
Market Access
For the 27-nation EU, the pact expands access to the Chinese
market for foreign investors in industries ranging from cars to
telecommunications. Furthermore, the agreement tackles underlying Chinese
policies deemed by Europe and the U.S. to be market-distorting: industrial
subsidies, state control of enterprises and forced technology transfers.
For China, the accord bolsters the country’s claim to be a
mainstream geopolitical force and may limit risks resulting from a tougher EU
stance on Chinese investments in Europe. It also strengthens Beijing’s
longstanding call for the start of negotiations on a free-trade pact with the
EU, which has insisted on an investment deal first.
China ranked as the EU’s second-largest trade partner in
2019 (behind the U.S.), with two-way goods commerce valued at more than 1
billion euros ($1.2 billion) a day.
Environmental Conditions
The investment deal “demonstrates China’s determination and
confidence in advancing a high level of opening to the outside world, and will
provide greater market access for China-EU mutual investment, a higher quality
business environment, stronger institutional guarantees and brighter
cooperation prospects,” Xi said, according to state media.
The announcement on Wednesday represents a high-level
political blessing to the investment pact, which will also cover environmental
sustainability. Both sides plan to put the finishing touches on it over the
coming months.
“A
strong agreement would be a powerful statement to show that constructive
engagement can produce results,” Joerg Wuttke, president of the EU Chamber of
Commerce in China, said in an emailed statement.
Human Rights
Once finalized, the accord will need the approval of the
European Parliament, where some voices have expressed objections as a result of
alleged human-rights violations in China. The deal includes Chinese pledges on
labor standards meant to address such concerns, including in relation to
ratification of related United Nations-backed conventions, according to EU
officials, who asked not to be identified because of the continuing
preparations.
“It’s
not a given that the EU Parliament will give its consent,” Reinhard Buetikofer,
a German Green member of the assembly, told Bloomberg Television on Tuesday.
“We’ll give it a tough scrutiny.”
The EU’s push for an agreement highlights global
cross-currents after Trump shook the post-war system over the past four years
by sidelining the World Trade Organization, starting a tariff war against China
and hitting or threatening U.S. allies in Europe with controversial import
duties.
When the Trump administration in January 2020 struck a
first-phase commercial accord with China that eased their economically damaging
fight, the EU criticized the deal as a “managed-trade outcome” that might
itself violate WTO rules and merit a legal challenge.
Deal Highlights
Following are some
of the Chinese concessions to European investors in the agreement, according to
an EU official who spoke on the condition of anonymity:
Following are some of the Chinese concessions to European
investors in the agreement, according to an EU official who spoke on the
condition of anonymity:
Chinese market opening: improved access across industries
including air-transport services, where joint-venture requirements for
computer-reservation systems are being removed, and new opportunities in
sectors including clean vehicles, cloud services, financial services and health
Chinese state-owned enterprises: non-discrimination
commitment when SOEs are buyers of services
Chinese subsidies: enhanced transparency, notably for
services
Chinese forced technology transfers: prohibited
While the accord largely commits the EU to maintain its
relative openness to Chinese investors, according to the European official, the
deal offers greater access for them to the bloc’s:
Energy wholesale and retail markets (but excluding trading
platforms)
Renewable-energy markets (with a 5 per cent cap at the level
of EU countries and a reciprocity mechanism)
Translation
(彭博)- 歐盟和中國宣布達成政治協議,中國同意進一步向歐盟投資者開放市場,這標誌著2013年開始的會談邁出了重要一步。
中歐投資協議進行的談判取得突破,標誌著歐盟決心聚焦亞洲的經濟機會,即使持續地批評北京的人權記錄。該協議可能會在2022年初生效。
對於歐盟來說,這筆交易有可能激怒即將上任的美國政府,該政府敦促歐洲人就中國的經濟做法與他們進行磋商。美國和歐盟未能樹立共同立場,將給北京帶來優勢,因為唐納德·特朗普(Donald
Trump)擔任總統後,西方領導人重新評估了地緣政治關係。
歐盟兩大主要機構的領導人查爾斯·米歇爾(Charles
Michel)和烏爾蘇拉·馮·德·萊恩(Ursula
von der Leyen)在與中國國家主席習近平舉行視頻會議後的一份聲明中說:“這項協議具有重大的經濟意義。”; “中國致力於為歐盟投資者提供前所未有的市場准入水平,使歐洲企業的運營具有確定性和可預測性。”
在候任總統喬·拜登(Joe
Biden)即將上任的美國新政府已經表示對該交易持保留態度。拜登的國家安全顧問 Jake
Sullivan 在12月22日呼籲“就對中國經濟行徑的共同關切,與歐洲夥伴儘早進行磋商。”
要求不願透露姓名的拜登過渡團隊的一位官員周三表示,新任政府期待與歐盟就“針對中國不公平經濟做法和其他重要挑戰去協調處理方法”進行磋商。
市場准入
對於27個成員國的歐盟,該協議擴大了外國投資者進入中國市場的機會,涉及從汽車到電信等行業。此外,該協議還解決了歐洲和美國認為扭曲市場的潛在中國政策:工業補貼,國家對企業的控制和強制性技術轉讓。
對於中國而言,該協議增強了該國聲稱自己是主流地緣政治力量的作用,並可能限制由於歐盟對中國在歐洲投資的強硬立場而導致的風險。這也增強了北京長期以來一直呼籲與歐盟就自由貿易協定進行談判的呼籲,後者一直堅持首先達成投資協議。
2019年中國是歐盟第二大貿易夥伴(僅次於美國),雙向商品貿易額每天超過10億歐元(12億美元)。
營商環境
據官方媒體習近平曾說, 這項投資協議“表明了中國對推進對外開放的決心和信心,並將為中歐相互投資提供更大的市場准入,更高質量的商業環境,更強大的制度保障和更光明的合作前景”。
週三的宣布是對投資協定的高層政治祝福,其中還將涵蓋環境的可持續性。雙方計劃在接下來的幾個月中對其進行最後的潤色。
歐盟中國商會會長Joerg
Wuttke在一封電子郵件聲明中說:“強力的協議將是有力的聲明,表明有建設性的溝通可以產生結果。”
人權
該協議一旦敲定,將需要得到歐洲議會的批准,由於中國涉嫌侵犯人權,一些聲音表達了反對意見。有歐盟官員表示,該協議包括中國對旨在解決此類問題的勞工標準的承諾,包括落實聯合國支持的相關公約有關的承諾。由於準備工作仍在不斷進展中,他們不願透露姓名。
德國綠黨國會議員Reinhard
Buetikofer星期二對彭博電視台說:“這不是一定會獲得歐盟議會的同意”; “我們將對其進行嚴格審查。”
歐盟的推動協議凸顯了全球的交叉潮流。特朗普在過去四年辺沿化世界貿易組織(WTO),用關稅戰爭針對中國, 並以有爭議的進口關稅去打擊或威脅歐洲的美國盟友,動搖了戰後體制。
當特朗普政府於2020年1月與中國達成第一階段商業協議以緩解其對經濟造成破壞的鬥爭時,歐盟批評該交易為“有受操控的的貿易結果”,這本身可能違反WTO規則並應受到法律挑戰。
交易亮點
根據一位不願透露姓名的歐盟官員說,以下是在該協議中,中國對歐洲投資者的一些讓步:
- - 中國市場的開放:改善了航空運輸服務等行業的准入條件,其中取消了對電腦預訂系統的合資要求;
以及對環保清潔車輛,雲端服務,金融服務和健康服務行業提供新機遇
- - 中國國有企業:當國有企業(SOEs)成為服務購買者時的無歧視承諾
- - 中國的補貼:提高透明度,尤其是服務業的透明度
- - 中國強制技術轉讓:禁止
這位歐洲官員稱,儘管該協議主要承諾歐盟維持對中國投資者的相對開放性,但該協議為他們提供了進入歐盟的更大途徑:
- 能源批發和零售市場(但不包括交易平台)
- - 可再生能源市場(歐盟國家的上限為5%,並設有互惠機制)
So, while
China is having a tense relationship with the “Five Eyes" (FVEY) countries,
it is now hoping to maintain a good trading connection with the EU. Given that
China’s human right record is constantly challenged by some European
politicians on issues such as handling of the democratic movement in Hong
Kong, some opposition voice can be expected in the EU when this investment package
is being discussed in the future. Meanwhile in South-east Asian, China is
trying to have a good relationship with the ASEAN countries. On November 15,
2020, 15 Asia-Pacific nations, including China, signed the Regional
Comprehensive Economic Partnership (RCEP) which is the world’s largest
free-trade agreement (FTA).
Notes:
1: SOEs is the abbreviation for State-Owned Enterprises
2: Charles Michel is a Belgian politician serving as
President of the European Council since 2019. He previously served as Prime
Minister of Belgium between 2014 and 2019. The European Council is a collegiate
body that defines the overall political directions and priorities of the
European Union.
3: Ursula von der Leyen is a German politician and physician
who has been the president of the European Commission since 1 December 2019.
The European Commission is the executive branch of the European Union, responsible
for proposing legislation, implementing decisions, upholding the EU treaties
and managing the day-to-day business of the EU.