China is not protectionist, says Siemens
Siemens, Germany's top electrical and engineering group, played down fears yesterday that China is turning protectionist, despite concerns over policies supporting local producers announced last year.
Richard Hausmann, Siemens Chief Executive of North-east Asia and China, said Beijing's comments last year about buying local products for government projects caused concern initially among foreign invested companies, but those concerns have largely been allayed.
The European Union Chamber of Commerce also said in a statement last Friday it welcomed Chinese Premier Wen Jiabao's comments that Beijing would ensure favourable conditions for foreign companies operating in China. "There's been a growing mood of uncertainity in recent months about the climate for foreign enterprises in China," it said.
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