European companies should not be compelled to transfer technology in order to gain access to the Chinese market, said Nicolas Chapuis, ambassador of the EU delegation to China.
The bloc welcomes any foreign investments conducive to creating jobs and growth, said Chapuis.
Date: December 12, 2018
By: Huileng Tan | @huileng_tan
The European Union has a vested interest in promoting technologyexchanges with China, but any transfers should be regulated, said the trade bloc’s ambassador to China on Wednesday.
“For the last 40 years, EU companies have provided most of the foreign tech that is in China, about 50 percent of what is today in China,” said Nicolas Chapuis, ambassador of the EU delegation to China.
However, the diplomat expressed concerns about China trading market access for technology.
Beijing sometimes forces foreign companies to hand over their technological know-how in exchange for access to its massive domestic market. The administration of U.S. President Donald Trump has demanded that China cease forced tech transfers, which have become a flashpoint in the U.S.-China trade war.
“This has to stop or to be regulated,” Chapuis told CNBC at the European Chamber Annual Conference 2018 in Beijing. [FULL STORY]