Hey there! Have you ever wondered how companies from different countries work together? Well, let’s dive into a story about China and Europe.
The European Union (EU) has a new rule called the Foreign Subsidies Regulation (FSR). This rule means that companies from outside Europe, like those from China, need to tell the EU if they’ve received any help or subsidies from their home governments. Imagine if you had to tell everyone about all the gifts you’ve received before joining a game!
This new rule is causing some difficulties for Chinese companies. For example, a big train company from China wanted to sell electric trains in Bulgaria but had to step back because of the FSR rules. Another company faced similar issues in Romania.
Why is this happening? The EU is asking for a lot of information, and sometimes companies don’t have enough time to gather it all. This can lead to them missing out on important deals and even hurting their reputation.
China’s Ministry of Commerce (MOFCOM) noticed these problems. They found out that Chinese companies have lost over $1 billion because of these challenges! That’s a lot of money that could have been used for making new products or creating jobs.
MOFCOM wants to talk with the EU to find a solution. They believe it’s important to have fair rules so that everyone can play the game equally. Just like making sure all players in a sport know the rules and have the same chances to win!
This situation shows how countries need to work together to solve problems. Let’s hope they can find a way to make it fair for everyone! 🌟
Reference(s):
cgtn.com
