Austrian economics suffering from U.S. policy, China important partner

Austria's business community is "suffering from the new policy in the U.S. since President Trump is in office," Christoph Matznetter told CGTN at Vienna's Chinese Austrian Business Forum.

Matznetter – the vice-president of the Austrian Economic Chamber who has also served as an MP for decades and as chairman of the parliament's foreign policy committee – said "We have big troubles also for our business relations around the globe." 

However, he added that China is an "important partner" for the small Alpine republic , because "the People's Republic of China is very interesting for free trade, open markets – and this is also our intention in Europe."

After meeting the EU member's new coalition government earlier on Thursday, a 60-strong Chinese delegation organized the forum together with the Austrian Economic Chamber to promote economic cooperation between the two countries in an era of increasing barriers. 

Businesses in Austria and elsewhere are increasingly worried about emerging trade conflicts across the globe. "Conferences like this are a good milestone on the way to have a better world with free trade around the globe," Matznetter said.

"Austria is strong for its automobile and machinery manufacturing as well as chemicals and food processings," the Secretary General of China's Chamber of International Commerce Sun Xiao said. "And these are the areas that the Chinese business community would like to seek opportunities in future."

Like many other European countries, Austria has repeatedly complained about its trade deficit with China. But last year, in a step in the right direction, exports to China rose by more than 7 percent. 

In past years, major Chinese companies have opened European headquarters in Vienna, including train manufacturer CRRC and the Industrial and Commercial Bank of China.

In recent years, there has been a lot of turbulence in the supply chain cooperation, particularly because of pandemics, geopolitical conflicts and even war – but the Chairman of China International Exhibition Center Group Limited Lin Shunjie told CGTN that cooperation can overcome these problems. 

"I want to invite all Austrian companies to participate in CISCE, the supply chain expo in China," Lin said, "because that's a platform, that's access for you to go to the Chinese market."

After its stop in Austria, the Chinese trade delegation is set to travel to Italy on Sunday and continue to Serbia next Wednesday where a roadshow of Beijing's upcoming International Supply China Expo will take place.