Investment needs a level playing field

Likewise, Chinese State-owned enterprises are increasingly entering markets in Europe that foreign enterprises are unable to access in China. Two deals in Portugal's energy sector demonstrate this lack of alignment. China's State Grid Corporation acquired a 25 percent stake in Redes Energeticas Nacionais, the Portuguese national energy network, in February. And in December, China Three Gorges bought a 21 percent stake in Energias de Portugal, Portugual's state power company.

The eurozone debt crisis is the result of a misallocation of resources. It is a crisis of sovereign debt, not of private debt. By and large, European companies remain strong and still hold large amounts of capital. This means that European companies are still in a strong position to invest.

China has been by far the biggest driver of global growth since the global financial crisis started in 2007. This growth and the sheer size of the Chinese market continue to offer major investment opportunities for European companies.

And we have the products, services, technology and know-how to serve the Chinese market.

But, while Chinese overseas direct investment in Europe tripled in 2011, in contrast, EU companies' investment in China over the same period actually declined - despite our members telling us that the Chinese market is increasingly important to their global success.

Without the open global trading system, China's remarkable economic development would not have been possible. So, we hope that as Chinese companies are increasingly going global, the importance of open markets will be increasingly recognized.

But, more important is the role that further opening-up can play to help rebalance China's own economic model.

The European Chamber has listed the acceleration of the discussion on a China-EU Bilateral Investment Treaty as a top priority recommendation to the policymakers of both sides.

This remains a precondition for a better sharing of interests between European and Chinese companies, enabling Europe to attract more capital and investment, and giving China more access to the technologies it needs to further climb the value chain and gain positions in new markets.

This process will bring the EU and Chinese economies closer.

At the core of both the EU's 2020 Strategy and China's 12th Five-Year Plan (2011-15) is the drive for green and sustainable growth based on an innovative economy.

This will bring synergies, but will also put China and the EU into greater competition in some areas.

Both parties need to keep an eye on the long term. If both sides can solve and make progress on issues that affect EU-China relations in the short term and foster the conditions for a comprehensive Bilateral Investment Treaty, this will bring huge long-term benefits.

Mutual open access to markets in the EU and China would promote competition and would lead to increased efficiency, effective innovation and greater economic development, ultimately benefiting both EU and Chinese consumers.