Brüderle slams business conditions in China

Brüderle slams business conditions in China
Photo: DPA
German Economy Minister Rainer Brüderle on Thursday slammed business conditions for Western firms operating in China ahead of a visit to Berlin by the country's vice premier Li Keqiang.

“Improvements need to be made when it comes to market access for German firms on the Chinese market,” Brüderle told business daily Handelsblatt, citing in particular hurdles for the insurance and banking sectors.

“On my visit to China, I often heard complaints that important regulations were introduced suddenly and without consulting the economic players involved,” said the minister. “Foreign firms still complain about a lack of transparency and predictability.”

While Chinese legislation is increasingly in line with international standards, there “are failures in implementing this legislation”, especially in the provinces, said Brüderle.

He praised the Chinese authorities however for “taking our concerns seriously and seeking to improve the investment environment for foreign companies.”

Later on Thursday, Brüderle was due to meet Li, who has already visited Madrid as part of a European tour and is expected to travel onwards to London after Berlin.

On Friday, Li, widely tipped to be the country’s next premier, was due to meet Chancellor Angela Merkel.

AFP/The Local/mry

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