Speaking at an EU-China conference in Beijing, EU Commissioner for Enterprise and Information Society Erkki Liikanen said European companies are investing in the mainland's long-term future because they believe the country's rise is good for the continent – even though many Europeans feel China threatened their jobs. Europeans invested US$5.8 billion in the mainland last year, making them the third-largest foreign direct investor group in 2003. Their biggest investments were in the automotive and telecom industries.
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