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
21:11
Meghan Markle will no longer appear in season 3 of the Netflix series The Gentlemen
20:22
Railway traffic was temporarily halted between Simeria and Orăștie, after the discovery of improvised electrical installations.
20:02
Greece has moved a Patriot anti-aircraft battery to Crete for military defense against the risks of Iranian attacks on American installations.
19:41
Conflict at Amzei Pastry Shop: A man in a state of intoxication attempted to assault a woman, who defended herself with pepper spray.
19:18
Lando Norris won the Dutch Grand Prix, bringing a third consecutive victory for McLaren
See more news