Trade

Chinas EU ambassador: Dont block Chinese companies

The EU could face a backlash from “suspicious” Chinese entrepreneurs if it pursues its plans to limit foreign corporate ownership and Chinas involvement in 5G communications, the countrys ambassador to the EU said.

In an interview with the Financial Times Zhang Ming warned that if EU countries do not promote international cooperation and free markets, “it would be disastrous for them,” as it would impact Chinese investments in the bloc.

“What I hope to see is that the EU will keep to the principles of multilateralism and free trade, as well as the principles of openness, fairness, justice and non-discrimination,” he said.

The comments come ahead of recommendations expected in January for EU countries to tighten security checks on 5G companies. Chinas Huawei, which has faced a backlash from the U.S., is a world leader in the sector.

Zhang also gave a cautions response to a proposed EU-wide carbon border tax, which French Economy Minister Bruno

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