The European Union has initiated an investigation into potential unfair practices by China that may be limiting European companies' access to the Chinese market for medical devices. The probe, led by the European Commission, aims to address the imbalance in market access between European and Chinese firms.
Trade chief Valdis Dombrovskis emphasized the importance of openness for businesses to thrive and foster innovation globally. The investigation follows unsuccessful attempts to address trade issues with China through dialogue.
If the issue remains unresolved, Brussels could consider restricting Chinese access to the EU market. Chinese exports of medical devices to Europe have seen a significant increase in recent years, prompting concerns about fair competition.
The commission has gathered evidence suggesting that China's market has become increasingly closed to European companies, with measures favoring local firms over foreign competitors. This has particularly impacted countries like France, Germany, Italy, and the Netherlands, as well as numerous small and medium-sized enterprises across Europe.
The investigation process is expected to last between nine to 14 months, starting with a series of inquiries directed at Chinese authorities. The commission aims to achieve fair treatment for all parties involved, emphasizing the need for reciprocity in market access.
However, China's foreign ministry has criticized the EU's actions as protectionist, urging adherence to open market principles and fair competition under WTO rules. The ministry called on the EU to refrain from unjustly restricting Chinese companies on various grounds.
