Euro groups eye stakes in local firms

Some voice concerns that market-oriented reforms are needed

European businessmen are considering buying stakes in more Chinese private companies and are calling for the necessary market-oriented reforms.

Some European companies are showing interest in buying full control of or taking a stake in privately-owned companies, for example, in the auto-parts and service station business, Joerg Wuttke, president of the European Union Chamber of Commerce in China, said on Thursday.