{"id":12898,"date":"2023-11-12T16:28:49","date_gmt":"2023-11-12T16:28:49","guid":{"rendered":"https:\/\/infundpros.com\/business\/beijings-data-and-spy-laws-threaten-to-spur-decoupling-with-europe-says-business-group\/"},"modified":"2023-11-12T16:28:49","modified_gmt":"2023-11-12T16:28:49","slug":"beijings-data-and-spy-laws-threaten-to-spur-decoupling-with-europe-says-business-group","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=12898","title":{"rendered":"Beijing\u2019s data and spy laws threaten to spur decoupling with Europe, says business group"},"content":{"rendered":"<div>\n<p>Stay informed with free updates<\/p>\n<p class=\"article__content-sign-up-topic-description\"><span>Simply sign up to the <!-- -->Chinese business &amp; finance<!-- --> myFT Digest &#8212; delivered directly to your inbox.<\/span><\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=93bbc4ee-41ee-4552-9da0-d2cffaae0528&amp;concept-id=dd3cc5a2-d14b-4b78-811c-89c387497476\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>China\u2019s amended anti-espionage and data laws threaten to spur decoupling with Europe by making it difficult for foreign companies to invest, according to a European business lobby group. <\/p>\n<p>The remarks from BusinessEurope, which represents commercial lobby groups from across the EU, come after China sought to allay growing concerns over the foreign investment environment last week with a memo ordering local authorities to cease discriminatory practices.<\/p>\n<p>BusinessEurope deputy director-general Luisa Santos warned that new laws restricting data flows out of China, coupled with severe punishments for those charged under amended anti-espionage legislation, were concerning foreign investors.\u00a0<\/p>\n<p>\u201cIf people are afraid you could be going to jail in China\u201d by sharing data with Europe, then \u201cyou have to make some very difficult choices and this could effectively lead to the decoupling that we all want to avoid,\u201d Santos said in an interview in Beijing.<\/p>\n<p>Foreign chambers of commerce have complained that new Chinese laws on cross-border data flows are too vague, making it hard for multinationals to conduct normal business and research activities in conjunction with their international operations.<\/p>\n<p>The European Union Chamber of Commerce in China recently issued a report detailing 1,058 recommendations to Chinese authorities about the data laws and other practices it says provide unequal treatment for foreign companies in the country.<\/p>\n<p>\u201cThe main objective is to show we still care\u2009.\u2009.\u2009. China is together with the US our major trading partner,\u201d Santos said of her visit to Beijing. \u201cAt the same time the relationship is facing a lot of challenges.\u201d<\/p>\n<p>She said regulations in Europe requiring greater due diligence on issues such as forced labour meant that companies needed to strengthen their supply chain compliance and traceability.<\/p>\n<p>But China has been cracking down on due diligence companies, detaining local employees of US group Mintz and investigating others, such as expert network CapVision, making compliance more difficult. <\/p>\n<p>Santos said if companies struggled with supply chain traceability requirements, \u201cor if that information is not accurate or positive then there\u2019s a very high risk of disengagement from the Chinese market\u201d.<\/p>\n<p>Increasingly, companies would begin deploying an \u201cin China for the Chinese market\u201d strategy, separating their local operations from overseas networks and investing in new manufacturing capacity for exports.<\/p>\n<p>She said other concerns among European business included China\u2019s stance on the Ukraine war, its insistence on retaining developing nation status in the WTO, which entitles it to preferential treatment, and slow visa issuance.<\/p>\n<p>China\u2019s Ministry of Commerce has sought to allay concerns from foreign chambers of commerce. In a memo issued last week, it ordered the \u201cclean-up\u201d of regulations that discriminated against foreign investors. <\/p>\n<p>These included measures such as forcing companies to undergo a longer process to apply for permits, not allowing foreign brands to benefit from subsidies, and stopping them from participating in local government tendering and procurement.<\/p>\n<p>Commenting on the memo, the European Chamber said it \u201clooks forward to the release of a timeline and more specific implementation guidelines\u201d while British Chamber head Julian Fisher said the announcement would \u201chelp install confidence in the Chinese market among our members\u201d.<\/p>\n<p>But president of AmCham China Michael Hart said after three years of Covid restrictions, geopolitical tensions and challenging US-China relations, getting companies to invest again \u201cisn\u2019t like flipping a switch\u201d.<\/p>\n<p>\u201cWe\u2019ll have to see what comes next in terms of actions and then we\u2019ll see if companies gain enough confidence to approve new investments,\u201d said Hart.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.ft.com\/content\/93bbc4ee-41ee-4552-9da0-d2cffaae0528\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stay informed with free updates Simply sign up to the Chinese business &amp; finance myFT Digest &#8212; delivered directly to your inbox&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":{"0":"post-12898","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Beijing\u2019s data and spy laws threaten to spur decoupling with Europe, says business group | inFundPros<\/title>\n<meta name=\"description\" content=\"Stay informed with free updatesSimply sign up to the Chinese business &amp; finance myFT Digest -- delivered directly to your inbox.China\u2019s amended\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infundpros.com\/?p=12898\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Beijing\u2019s data and spy laws threaten to spur decoupling with Europe, says business group | inFundPros\" \/>\n<meta property=\"og:description\" content=\"Stay informed with free updatesSimply sign up to the Chinese business &amp; 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