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Europe Focus

Why Europe?

China-Europe Connectivity

Today, the idea of both giant economies, China and the European Union, joining hands and fully harnessing the synergies between them both, will definitely not be dismissed as a flight of fancy. To give a brief but expository summary: China and the EU are the two biggest traders in the world; the EU is China’s biggest trading partner whilst China also comes close to becoming the EU’s biggest trading partner, following closely behind the US. Since China’s accession to the WTO in December 2001, which was hailed as an important milestone in China’s integration into the global economy, trade relations between China and the EU have gathered momentum at an incredible pace. They now trade over €1bn every single day.

China’s growing presence on the continent is welcomed by the EU which is a grand connectivity initiative in itself and whose ultimate aim is to promote connectivity both within and beyond its borders; therefore, the EU’s objective in this respect very much complements China’s “going out” strategy.

In January 2016, China officially became a member of the European Bank of Reconstruction and Development (EBRD), of which the EU is the biggest proponent through its generous provision of grants (€179m) that accounted for half of the donor funding to the EBRD in 2015. The People’s Bank of China Governor, Zhou Xiaochuan, highlights that China’s accession to the EBRD will provide a platform to share experiences in economic transition and development with other member states. Furthermore, there are clear overlaps in the EBRD’s efforts to promote economic connectivity in the very regions that are also covered by China’s “One Belt, One Road” initiative, which involves a sophisticated network of high-speed railways, ports, pipelines, and highways connecting Asia to Europe.

The EU is in prime position when it comes to global trade. The openness of our trade regime has meant that the EU is the biggest player on the global trading scene and remains a good region to do business with.

The EU is the largest economy in the world.

The EU is the world's largest trading block.

The EU ranks first in both inbound and outbound international investments.

The EU is the top trading partner for 80 countries.

The EU is the most open to developing countries.

The EU’s services markets are highly open and we have arguably the most open investment regime in the world.

EU Market Potential

440 million consumers looking for quality goods

The world's largest single market with transparent rules and regulations

The most open market to developing countries in the world

CW's Europe Focus

CW’s Europe Desk in London to Promote China-Europe Connectivity

In light of the flourishing trade relations between China and Europe, and with the aim of facilitating coordination so that we can better serve the needs of European clients looking to establish operations in China as well as Chinese investors wishing to expand into Europe, CW set up a Europe desk in London in 2016.

CW’s German Desk to Cater for German-speaking Clients

In view of the DACH region’s dynamic trade relationship with China, we set up the German business desk. Having our own German speaking advisor and by harnessing our connections to accounting, consulting and law firms in the DACH region, we are confident of providing leading advisory services, offering flexible, timely, localized services to address the specific needs of German-speaking clients who wish to break into the Chinese market as well as the needs of Chinese-speaking clients looking to gain a foothold in Europe.

Germany is China’s biggest trading partner within the EU with bilateral trade €212.1bn in 2020. In particular, Frankfurt—the biggest financial hub in continental Europe—has been basking in the Chinese spotlight for its pioneering role as Europe’s first renminbi payment hub and its part in fostering the emerging financial technology industry, also known as Fintech.