A European business group urged the Chinese government to allow foreign businesses better access to its vast domestic market, arguing that regulatory barriers could threaten investment despite the economy's rapid growth. "China is still one of the most heavily controlled economies in the world," Jacques de Boisséson, the president of the European Union Chamber of Commerce in China, told reporters Thursday. While many companies are drawn here by the prospect of China's rapid growth, numerous regulatory issues can make it hard for them to turn a profit, he said.
In its annual position paper on business conditions in China, the European Chamber pointed to several examples of stringent licensing requirements and arbitrarily-enforced legislation that creates headaches for foreign businesses. The 647-page bilingual document contains more than 380 specific suggestions on how to change Chinese regulations and practices.
For more: EU Business Group Urges China to Grant Better Market Access - WSJ.com
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