European Chamber1 European Union Chamber of Commerce in China www.europeanchamber.com.cn @ 2019 European Union Chamber of Commerce in China, all rights reserved. This study may not be reproduced either in part or in full without prior written consent of the European Union Chamber of Commerce in China.European Chamber3TABLE OF CONTENTS EXECUTIVE SUMMARY……………………………………………………………….……………… 71 EUROPEAN BUSINESS SEES PROGRESS IN CERTAIN AREAS…………………………101.1 Market opening: good for some, too late for others…………………………………………………………….10 1.2 European firms see opportunity in increasingly innovative China………………………………………………15 1.3 Blue skies ahead …………………………………………………………………………………………………182 BUSINESS OUTLOOK NEGATIVELY IMPACTED AMIDST ECONOMIC SLOWDOWN.....202.1 European companies revise outlook…………………........................................................................20 2.2 China’s 'reform deficit' creates new challenges……….......…...............................…………………………22 3 REGULATORY REFORM NOW IMPERATIVE………………………………………….…….24 3.1 Regulatory burdens harder to bear……………………………………………………………………………………24 3.2 Ambiguous rules hinder progress……………………………………………………………………………………27 3.3 Improvements to business environment mainly benefit Chinese firms………………………........................28 3.4 Compelled tech transfers continue despite government pledges…………………………….........................30 3.5 Restrictive internet and Cybersecurity Law impede business………………………………………………………314 LEVEL PLAYING FIELD REMAINS OUT OF REACH..........................................................41 4.1 Equal treatment improves, but almost half still report discrimination………………………......………………41 4.2 SOEs dominate in many industries………………...........................................................................………42 4.3 CM2025 still seen to unfairly promote Chinese industry………………...................................………………45 . 5 ALARM BELLS SOUND AS PROGRESS SLOWS IN SOME AREAS.…..…..….…………..47 5.1 IPR improvements stall……………………………………........................................................................…47 5.2 Setback in environmental enforcement……………………..................................................………………48 6 EUROPEAN BUSINESS REMAINS COMMITTED TO CHINA, DESPITE CHALLENGES... 49 6.1 Here for the Chinese market……………………………………..................................................................49 6.2 Successful European firms ready to invest more under right conditions……................................…………51 7 SMES CALL FOR BETTER POLICY IMPLEMENTATION…………………………………….55 7.1 SMEs hit harder by slowing economy…………………….........................................................................56 7.2 Undervalued and overlooked………….................................................................................................…57 7.3 SMEs feel less optimistic about market opening……......................................................................………58 8 ANNEX……………….…………………………………………………………….........………60 8.1 US-China trade war: limited impact, uncertainty abounds…………………….............................……..........60 8.2 The struggle to attract and retain talent intensifies…………………………...........................………………61 8.3 BRI lacks relevance………………………………….......................................................................………649 PANEL OVERVIEW……………………………………………………………………………………669.1 Industry …………………….....................................................................................................................66 9.2 Size and time in China ………………................................................................................………………6710 ABOUT THE SURVEY MOTIVATION AND DESIGN……………………………………………6811 ABOUT ROLAND BERGER…………………………………………………………………………6912 ABOUT THE EUROPEAN UNION CHAMBER OF COMMERCE IN CHINA…………………70European Chamber4In partnership withTABLE OF FIGURES Figure 1: Greater market access for cosmetics, financial services and hospitality...................................………11Figure 2: Raised equity caps drive some to increase JV shares…………………………………………………12Figure 3: European businesses feel more accepted ………………………………………………………………12Figure 4: Increased market access provides warmer welcome……………………………………………………13Figure 5: Doors open for some, but high thresholds await ………………...........................…………………...14Figure 6: Mixed outlook on future market opening………………………………..........……………………........14Figure 7: China’s R&D and innovation ecosystem continues to improve..........................................................15Figure 8: Majority still see Chinese firms as equally or more innovative………..……..…………………......…16Figure 9: European firms react positively to competition …..…..…….……..……......................………..……17Figure 10: European companies maintain edge in key areas...........................................................……......….18Figure 11: Air quality improves across the board................................................................................................
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