Chinese Firms Warn EU to Drop Plans for Foreign Subsidy Curbs

A Chinese business lobby group warned the European Union to drop contentious plans to impose curbs on companies funded by foreign states.

The EU is weighing legislation that could rein in Chinese state-owned firms’ acquisitions in Europe or punish businesses that may use foreign state funding to undercut European rivals.

Such rules are unclear, unnecessary and may be incompatible with the EU’s World Trade Organization obligations, the China Chamber of Commerce to the EU said in an emailed statement on Thursday.

Vestager Weighs New Powers to Take on Tech Giants, China M&A

The legal framework to scrutinize foreign subsidies “will ...