BEIJING, China — A lack of information and transparency are top barriers for European companies seeking involvement in China’s Belt and Road Initiative, according to a survey published Thursday by the European Union Chamber of Commerce in China. ADVERTISEMENTThe BRI — Chinese President Xi Jinping’s signature foreign policy initiative — has also faced criticism for swaddling poor nations with crippling debt and for being too opaque. A lack of information on deals and “non-transparent” procurement systems were the biggest barriers identified by European firms in the survey. Of the companies that bid to participate in BRI projects, only 10 percent got wind of the project through publicly available information. The report noted that Chinese companies often provide everything for a project, from the materials to construction services and financing.

Source: Philippine Daily Inquirer January 16, 2020 01:52 UTC