The European Commission launched its first investigation under the Foreign Subsidies Regulation (FSR) against a Chinese company participating in an EU tender. On February 16, 2024, the European Commission (EC) launched an in-depth investigation into Chinese train maker CRRC Qingdao Sifang Locomotive Co Ltd., a subsidiary of CRRC Corporation (CRRC).
EU launches first in-depth investigation under Foreign Subsidies Regulation
First test case for the EC’s new investigation power demonstrates that FSR can create a level playing field between EU and non EU companies.