The Chinese envoy to the European Union (EU) has said he has no worries over Siemens-Alstom merger.
Zhang Ming, head of the Chinese Mission to the EU, made the remarks in an interview with The Financial Times on Tuesday, according to an edited transcript of the interview provided by the mission on Sunday night.
When asked whether the competition possibly resulted from the Siemens-Alstom merger against Beijing-headquartered CRRC worries him, Zhang said "actually I have no worries in this regard."
The CRRC is the world's largest supplier of rail transit equipment. A merger of the rail operations of Germany's Siemens and France's Alstom is being scrutinized by the EU competition watchdog.
"In a market economy, we have cooperation and we also have competition. So we do not reject competition," Zhang said.
"Because this process may propel all the participants to improve themselves, eventually leading to an all-win situation, we do not fear competition," he said.
"Our world provides a very big global market. There is not simply one single player like Alstom, Siemens or the CRRC. We need to cooperate together and compete together so as to provide better services to the whole world," Zhang said.
Latest comments