Chinese companies are taking advantage of the EU debt crisis to make headway into Europe, targeting key sectors and regions, including shipping and ports in Greece, auto manufacturing in Eastern Europe, and banking and finance in London. By relocating production to Europe and securing a “Made in Europe” label, some firms hope to boost their reputations. Car manufacturer Great Wall Motors opened an assembly line in Bulgaria to produce cars exclusively for Europe. China wants to invest in “sectors that will boost its foreign trade, but also facilitate its international trade in general,” says Hervé Solignac Lecomte, head of international trade at HSBC France as reported by Anne Villechenon in the Guardian. Europeans could be more willing to sell assets to Chinese investors – and the spread of operations to Europe could also decentralize Chinese corporate decision-making. – YaleGlobal Chinese manufacturers look to escape image problem by qualifying for coveted Made in Europe labelAnne VillechenonThe Guardian, 15 May 2012This article originally appeared in Le Monde. Rights:© 2012 Guardian News and Media Limited or its affiliated companies. All rights reserved.
“Made in China” No More