China has expressed severe criticism of the European Union's legislative proposal, known as the Industrial Accelerator Act (IAA), which aims to strengthen the industrial base of the community bloc. The Chinese Ministry of Commerce argues that this law will create obstacles to investment and will discriminate against foreign companies, especially those from China. Beijing has conveyed its concerns to the EU, warning that it may take retaliatory measures if the interests of Chinese companies are affected. The IAA aims to increase demand for low-carbon technologies manufactured in Europe and to protect strategic sectors such as batteries and electric vehicles. China contests the local content requirements and the forced transfer of intellectual property, arguing that they undermine fair competition. Although the EU remains open to foreign investments, the IAA imposes strict conditions for major investments, aiming to create high-quality jobs and stimulate innovation. The law aims to increase the share of the manufacturing industry in the EU's GDP to 20% by 2035, thereby strengthening the economic security of the community bloc.
Sources
Latest News
23:00
London authorities close traffic on Oxford Street: Britain’s busiest shopping street becomes pedestrian-only
22:55
Meta seeks to raise up to $95 billion to expand its artificial intelligence infrastructure
22:47
Audi CEO criticized in Germany after appearing alongside Trump / Gernot Döllner participated in the announcement of a $4.2 billion investment to build Audi’s first factory in the US
22:39
Kelemen Hunor estimates that the Luca Niculescu Government will remain in power until 2028: “If nobody brings you down, then you have no choice, you are condemned to govern”
22:33
Microsoft offers voluntary departures to approximately 60,000 employees across four countries amid massive investments in artificial intelligence
See more news