Survey: EU firms unhappy with China business climate

European companies are increasingly unhappy with China's business climate, according to an annual business confidence survey run by the EU Chamber of Commerce in China. Firms cited a lack of government transparency as their biggest obstacle, complaining that some regulations are inconsistent and introduced too hastily, with no clear explanation as to why they have been implemented. Joerg Wuttke, the chamber's president, observed that while companies are still upbeat about China, "people are less optimistic than last year," the Wall Street Journal reported. Many of these grievances will be aired at next week's EU-China summit in Beijing, although trade is expected to top the agenda. The EU is China's largest trading partner but has become increasingly concerned about its trade deficit with Beijing, which came to almost US$150 billion during the first eight months of the year, up from US$117 billion a year earlier.