Prévot: Europe must embrace partnerships with China in face of competition
Belgium and the EU must embrace partnerships with China in order to deal intelligently with competition from the country, Foreign minister Maxime Prévot said after a visit to the Belgian chemical company Syensqo in Shanghai.
Prévot is on an economic and political mission to Hong Kong and China this week, with the growing economic imbalance among the topics under discussion. The EU’s trade deficit with China rose to 360 billion euros in 2025, and Chinese industrial overcapacity and market distortions are impacting European companies.
During meetings with the Chinese authorities, Prévot will advocate for reciprocity and fair competition. He believes the EU needs to define a robust framework to better protect and promote its expertise, and that Belgium and the EU must reinvent their business relations with China, embracing partnerships.
Syensqo, which has been active in the Chinese market for 40 years, shows what is possible, he says. The company has expertise in sectors such as aviation, automotive manufacturing and electronics, which it applies within China.
Factories in Asia, and particularly in China, account for a third of Syensqo’s global turnover. One of the reasons the Chinese market can grow so rapidly is the reduction in bureaucratic barriers.
More than 150 scientists work at the R&D site in Shanghai, where there has been a shift from investing in capacity – which has a lower cost price – to investing in innovation. “Without innovation, you cannot survive in China,” said Yang Liu, Syensqo’s director in China.
The solutions developed at the Shanghai site are being rolled out in both the local and international markets. Aircraft parts and semiconductors are particularly important for the region, partly because local companies are importing fewer microchips due to trade tensions. Liu adds that the intention is to manufacture more products locally in Europe.
In March, the European Union proposed the Industrial Accelerator Act to encourage local production in order to help reverse the industrial decline in Europe.
Foreign minister Maxime Prevot visits Syensqo chemical factory in Shanghai, 28 April 2026 © BELGA PHOTO NICOLAS MAETERLINCK
Related news
