EU cracks down on Chinese subsidies

The EU Commission wants to prevent European companies from being taken over by highly subsidized foreign companies – the corresponding legislative proposal is now to be presented next Wednesday, a spokeswoman for the Directorate-General for Competition confirmed to China.Table. Brussels also wants to stop state-backed companies from abroad from taking public contracts away from European competitors. EU Competition Commissioner Margrethe Vestager had already made proposals in a White Paper last year.