Left Menu
Development News Edition

UPDATE 3-In breakthrough, China promises EU companies equal treatment

Reuters | Updated: 09-04-2019 20:38 IST | Created: 09-04-2019 20:38 IST
UPDATE 3-In breakthrough, China promises EU companies equal treatment
Chinese Premier Li Keqiang promised his European Union hosts on Tuesday that Beijing will no longer force foreign companies to share sensitive know-how when operating in China and was ready to address industrial subsidies.

Marking a significant shift, Li's pledge at the annual EU-China leaders meeting follows similar offers to the United States and potentially signals an opening that European companies have long lobbied for. Summit chair Donald Tusk called it a breakthrough.

"European companies will enjoy equal treatment," Li told a news conference following the three-hour summit in Brussels, offering to set up a dispute mechanism to handle complaints by foreign companies in China. Western governments have long complained that their companies are pressured into handing over technological know-how to Chinese joint-venture partners, officials or regulators as a condition for doing business in China.

That technology is often subsequently used by Chinese competitors, undercutting Western companies, says the European Union, which fears Chinese dominance in strategic industries. Tusk said it was the first time China had agreed to engage in discussions on reform of WTO rules, "this key priority for Europe."

China also agreed to address EU concerns over state subsidies to industrial firms. "Both sides will intensify the discussions with the aim of strengthening international rules on industrial subsidies," the two global trading powers said in a final summit statement. (Reporting by Philip Blenkinsop and Robin Emmott; editing by Kevin Liffey and editing by John Stonestreet)



Rethinking Rural Livelihoods in the Times of COVID-19

The reverse migration caused by COVID 19 pandemic has put an additional burden of about one crore people on Indian villages particularly in the states of Uttar Pradesh, Bihar, Bengal and Odisha. Besides increasing the risk of spreading the ...

‘Discounted Deaths’ and COVID 19: Anthropology of Death and Emotions

Death is a social event rather than the mere cessation of biological functions. As seen by anthropologists, death is not just physical but intensely social, cultural, and political....

Indigenous knowledge of communities a must for maximizing impact of community work

Generally, it has been observed that the majority of the academicians in higher education institutions neglect the wisdom of community people and throw their weight around thinking that they know everything and the community knows nothing. ...

In rebuking FBR, Pakistan’s courts take a stand for public health

The system, if implemented effectively, will allow Pakistans revenue service to combat the illicit trade in tobacco products and potentially add hundreds of millions of dollars to the states budget each year. ...


Latest News

Tamil Nadu extends coronavirus lockdown till June 30, allows partial resumption of public transport

The Tamil Nadu government on Sunday announced extension of the ongoing lockdown till June 30, albeit with more relaxations that included partially opening up public transport and allowing more employees at the workplace. Chief Minister K Pa...

Agra: 3 killed, Taj Mahal's marble railing damaged in thunderstorm

At least three people were killed and marble railing of iconic Taj Mahal was damaged due to thunderstorm that swept Agra on Friday night due to thunderstorm, officials said. The district administration has announced ex gratia of Rs 4 lakh f...

Iran berates U.S. over police killing, slams racism

Iran took Washington to task on Saturday over the alleged killing of an unarmed black man by a white police officer that sparked protests in the United States over racial injustice.Some dont think BlackLivesMatter, Iranian Foreign Minister ...

Oxford University vaccine is a humanitarian cause: Indian-origin scientist

An Indian-origin scientist, who is part of a team of Oxford University professionals on a project to find a vaccine to protect against the coronavirus, says she feels honoured to be a part of a humanitarian cause, with the worlds hopes atta...

Give Feedback