In a report released on Tuesday, the European Chamber of Commerce highlighted the urgent need to bring in economic reforms in China, in order to put international and domestic companies on an equal footing, Bloomberg reports. Key Quotes: “Urgent actions are needed to reduce the overwhelming dominance of state-owned enterprises, upgrade the overall regulatory framework, address issues of unequal treatment and better institute the rule of law.” “Failure to act now will only lead to an escalation of the significant tensions that are building in the global economic system.” “The general response from overseas businesses has been subdued, with several business leaders referring to it as, ‘too little, too late’.” “International banks simply do not have the capacity to acquire a significant stake in Chinese banks, which are too big, completely dominant and entirely unlikely to give up such a stake anyway.” “Requirements for unfair technology transfers remain a reality for many international businesses who want Chinese market access.” “The consequences of not dealing with this longstanding issue are now being felt, with the EU announcing the launch of a WTO case against China’s unfair technology transfers.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Germany: ZEW index to fall further in July – TDS FX Street 4 years In a report released on Tuesday, the European Chamber of Commerce highlighted the urgent need to bring in economic reforms in China, in order to put international and domestic companies on an equal footing, Bloomberg reports. Key Quotes: "Urgent actions are needed to reduce the overwhelming dominance of state-owned enterprises, upgrade the overall regulatory framework, address issues of unequal treatment and better institute the rule of law." "Failure to act now will only lead to an escalation of the significant tensions that are building in the global economic system." "The general response from overseas businesses has been subdued, with several… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.