EU official criticizes China's procurement market

European Union Trade Commissioner Karel De Gucht criticized China’s procurement rules and called for a more open market, the Wall Street Journal reported Thursday. De Gucht, who spoke at the Shanghai 2010 World Expo, called on China to create a more transparent regulatory environment for its procurements market. De Gucht’s remarks come after Chinese officials faced sharp criticism from European business leaders last week for stringent regulations that are perceived to benefit China’s domestic firms at the expense of their foreign partners. However, De Gauche also praised recent Chinese investments worth US$540 million in Eurozone sovereign debt, claiming that despite recent troubles the investments were fundamentally sound.