An unprecedented matchmaking event will take place at the EU Committee of the Regions (CoR) on 4 June, in the heart of Brussels. Regions from all over the EU will do their best to catch the eyes of unexpected suitors: Chinese banks. Some of the largest Chinese public banks will look for opportunities to invest in the so-called Juncker plan for infrastructure on that occasion,
Europolitics
has learnt. European regions are invited to present infrastructure projects with the aim of…
Three questions to Commissioner Jyrki Katainen
Are China or other non-EU countries allowed to take part in the Juncker plan?The aim of the 'Investment plan for Europe' is to strengthen the Union's competitiveness and to stimulate investment for the purpose of job creation. It is based on a smart use of public money to help unlock available, but untapped, private liquidity. The EU has suffered a significant drop in investments since 2007-2009. It was important for the Commission to put forward a plan that is open to third parties, including entities outside the EU. This is spelt out in the proposed regulation for a European Fund for Strategic Investments (EFSI), which provides the legal framework for the new investment vehicle. Negotiations on the regulation are ongoing between the EU co-legislators (the member states and the European Parliament), with a view to concluding them in June.Have the Chinese authorities expressed their interest in taking part in the plan? If yes, are there any figures on the table?The Commission has been contacted by stakeholders from outside Europe, including from China, but no concrete figures or proposals have been presented from China or elsewhere. The Commission is looking forward to continuing the dialogue with all interested parties.Does the Commission limit any such involvement? Any concerns regarding technology transfer? Security?The EU is open to investment. Unlike the other fundamental freedoms enshrined in the EU treaty, which are limited to the EU single market, the principle of free movement of capital also applies to investments from third countries. As regards the investment plan, the EFSI will be active in a range of sectors with a strategic European interest – from broadband and transport infrastructure to education, research and innovation. The main purpose is to create jobs and stimulate growth. The origin of an investor or project promoter is irrelevant in this context.
