EU biz chamber urges more Guangdong, HK teamwork

The European Union Chamber of Commerce in China urged Guangdong province to build itself into a world-class business destination by learning more and cooperating with Hong Kong.

George Lau, vice-president of the European chamber and chairman of the South China Board, said Guangdong, one of the country's economic powerhouses, has already become one of the places with the best business climates on the mainland.

"But, Guangdong should pursue world-class standards of economic governance to avoid missing out on considerable foreign investment in the future," Lau said when the European chamber released its South China Position Paper 2019/2020 in this Guangdong provincial capital on Wednesday.

The proximity of Hong Kong makes it possible to consult and learn more practices from Hong Kong, Lau said.

"In fact, with Hong Kong ranking fourth out of 190 economies for overall ease of doing business, Guangdong would derive a great deal of benefit from aligning its own policy frameworks more broadly with partners across the greater bay area," he said.

China has seen significant improvement in its business environment in recent years, said Lau.

"The future for European companies in the southern Chinese region remains promising. We believe that Guangdong can brighten its economic future by further improving the local business environment," he said.

"Our local membership has compiled constructive recommendations to start a conversation with the local government on how to shift Guangdong from a good place to do business in China to a great destination to do business globally," Lau said.

"Guangdong is well-positioned to become an exemplar of how China can benefit from an open, fair and well-regulated economy, and European business is ready to contribute to this goal and, by doing so, help demonstrate to the rest of China the value of completing the reform and opening-up process," he added.

The European chamber was founded in 2000 by 51 member companies that shared a goal of establishing a common voice for the various business sectors of the European Union and European businesses operating in China.

The European chamber now has more than 1,600 members in seven chapters operating in nine cities, including Beijing, Chengdu and Chongqing.