China criticizes protectionism harming foreign investors

The Chinese Ministry of Foreign Affairs stated that protectionist policies in Europe harm the confidence of foreign companies and reduce opportunities for digital transformation and economic and social development in the region. It pointed out that the review of the European Cybersecurity Law will force telecom companies to spend over 40 billion euros to replace equipment, with an expected loss exceeding 360 billion euros over the next five years. This situation undermines the open market environment and threatens their competitiveness. China called on the European Union to avoid discriminatory restrictions that only benefit European accounts, emphasizing that protectionist policies lead to a decline in trust and investment in Europe.

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