This is one of the tragedies of the EU-China relationship: China really wants to invest in Europe, it even has a "super appetite" to do so 👇, and Europe would objectively largely stand to benefit, because 1) that'd reduce the trade deficit they keep complaining about and 2) that'd be doing what China itself did to catch up by welcoming Western firms. Yet it's not really happening at a meaningful scale for political and economic reasons. The political aspect is obvious, you just need to see what happened with Wingtech/Nexperia last year. A Chinese company bought Nexperia, the Dutch government cleared the deal, and 2 years later the same Dutch state literally confiscated it using, for the first time, an obscure Cold War-era emergency law. Or you just need to see the constant media hysteria in Europe over China (this example just 2 days ago being yet another sad illustration: xitter.cf/RnaudBertrand/status/2…). If you put yourself in China's shoes, you'd have to be crazy to sink billions into a continent where your acquisitions can be confiscated at any moment and every factory you build gets portrayed as part of an evil scheme by an "authoritarian dictatorship". And on top of that there are the economic challenges that Liang is mentioning here 👇: Chinese investments in Europe face the same economic issues as any European company, it's simply really hard to do business profitably in Europe (given energy costs, administrative overheads, etc.) All resulting in the rather Kafkaesque situation where Europe complains about being flooded with Chinese exports yet makes the solution for it - Chinese goods being produced in Europe instead, which China has a "super appetite" for - politically radioactive and economically unattractive.