The French president Emmanuel Macron has said that Europe needs more Chinese investment in key sectors.
Speaking at the World Economic Forum in Davos on Tuesday, Macron said that “China is welcome, but what we need is more Chinese foreign direct investment in Europe in some key sectors to contribute to our growth.”
Electric Vehicles reports: According to the French President, this investment should involve transferring technologies, not only exports of “some devices […] or products which sometimes don’t have the same standards or are much more subsidized than the ones being produced in Europe.”
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The comments were made about a month after Emmanuel Macron visited Beijing.
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Attending a French-Chinese Business Council meeting alongside China’s President Xi Jinping, Macron called in December for “mutually beneficial projects” in sectors where he acknowledged China’s technological advantage, and urged Chinese firms to play a role in Europe’s development.
These included batteries, electric vehicles, and solar panels, among other sectors where the technological gap with China is widening.
As the French leader was calling for more Chinese investment in Europe on Tuesday, it was announced that the UK prime minister had approved plans for a controversial Chinese mega embassy in London.
