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
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