European business leaders have published the position papers for South China and presented the paper to officials from local and provincial governments. The report airs “complaints for the ears of local officials,” expressing pressing issues for business, trade and investment in the region, while speaking on behalf of EuroCham members.
The paper, which is released every other year, can be boiled down to improving “three flows” of people, goods and services, and information. The later would be, as paper asserts, bettered by more open communication and coordination with customs, suggesting that English user-guides for importers and exporters be created, and curbing non-compliance. The paper points out that China’s average internet speed, just 3.52 megabits per second compared to Hong Kong’s 16.3, could be significantly improved and the first flow, people, would benefit from improved overall labor market conditions that would make visas easier to obtain as well as enhance quality of life conditions.
The report recognizes that South China, Guandong in particular, has been crucial in the rise of China’s economy, but points to changes in consumer demand and industry standards as reason enough for the region to “reinvent itself.” EuroCham South China vice chairman Desmont said, “the new normal is moving from Europe to China” as he spoke of the world economy and the settling of the latest recession.