The first high-level Policy Summit on the Understanding China programme on ‘Doing Business with China’ welcomed high-level decision- makers, including Members of Parliament, senior European Union executives, and business leaders as well as academics from China and the EU to look ahead into the coming decade. The discussion centred upon how to turn the relationship into a win for both the EU and China, progress towards recognition of intellectual property rights to the benefit of both countries, and sought to untangle the controversy around sovereign wealth funds. It was co-organised by Friends of Europe and Eurochambres in partnership with the European Commission.
The one-day Policy Summit took place on 9 December, 2009, and began by highlighting ways in which the financial and economic crisis had demonstrated the rising importance of China’s economy and policies and obliged its leaders to play a much bigger role on the world stage. Companies from the European Union are massive investors in China, providing technology and accounting for many of the country’s exports.
Yet as the second session made clear, Chinese companies are now emerging as competitors to western counterparts, and fostering common thinking on product standards and regulatory policies is becoming essential to ensure the ‘level playing-field" which both China and the EU declare is their goal.
The question of how to turn "cautious co-operation" on standards into a fair relationship in which recognition of intellectual property and market access rights was enjoyed by European companies in China, and by Chinese companies in Europe was explored in detail in the first afternoon session. The conference closed with a close look at the role of China’s sovereign wealth funds in channelling financial imbalances, and concerns over governance and transparency. More detailed information on the topics under discussion can be found on the programme page.
In his keynote address, Song Zhe, Ambassador and Chief of the Mission of the People’s Republic of China to the EU, said that as "comprehensive and strategic partners" in the years ahead China and the EU would build political trust to underpin shared goals. "We will push forward practical cooperation, with high-tech collaboration in the lead and green economy as the focus," he said. "We will join hands to meet global challenges with a responsible attitude."