Beijing’s plans to create national champions in 10 high-tech manufacturing sectors by 2025 has come under fire from European businesses, which fear Chinese producers could swamp whole industries with overcapacity and spark a protectionist backlash.
The EU Chamber of Commerce in Beijing on Tuesday released a 70-page critique of China’s industrial policy, known as China Manufacturing 2025.
“The broad set of policy tools that are being employed to facilitate CM2025’s development are highly problematic,” said the chamber, which represents European businesses in China. The report was timed to coincide with the National People’s Congress, the annual meeting of China’s rubber-stamp legislature.
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