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Beijing's plans to use "staggering" subsidies to create national champions in high-tech industries would further skew China's business playing field and worsen trade frictions, a European lobby group warned Tuesday.The EU Chamber of Commerce said in a report state subsidies of hundreds of billions of dollars and foreign technology transfers in 10 sectors were "highly problematic" and urged China to stop interfering in the market. This could cause a new flood of overcapacity in those industries, as happened previously in the steel and solar sectors, and exacerbate tensions with China's international trade partners, the report said.In a report released in January by the American Chamber of Commerce in China, a record 80 percent of 462 US businesses who replied to a survey said they felt that foreign companies were less welcome than in the past.
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