News Summary

• The EU is gathering evidence ahead of a planned overhaul of its foreign subsidy rules.
• Created in 2023 by former internal market chief Thierry Breton, the Foreign Subsidy Regulation has been at the heart of several probes into Chinese firms bidding for EU public contracts.
• The Commission’s argument is simple: foreign firms, usually Chinese, receive too much public money for EU firms to be able to keep up.
• Public procurement accounts for roughly 15% of the EU's gross national product.