Economic policy: Less China, more Europe - EU regulates public contracts
The EU loses more than one billion euros per day in trade with China. The EU Commission wants to change that. How more public funds are to be spent on products from the EU.
The European Commission has proposed new rules to help the EU compete with countries like China by strategically using public funds. The rules would allow EU countries to prioritize European companies when awarding public contracts, but this would not be mandatory. The Commission also plans to create a digital platform to make it easier for companies to find and bid on public contracts, and to prioritize quality over price when evaluating bids.
The proposals aim to boost the EU's economic competitiveness, but have already raised concerns from Chinese trade representatives. The plans need to be approved by the European Parliament and EU member states before they can take effect.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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