Exclusion of Chinese equipment - Study, cost for EU reaches 367.8 billion euros
The European Union's proposals to strengthen cybersecurity by phasing out equipment from Chinese suppliers could cost it more than $400 billion over the next five years, according to a study by KPMG on behalf of the China Chamber of Commerce in the EU (CCCEU).
As reported by the Reuters news agency, under new cybersecurity rules, the EU plans to gradually remove components and equipment from "high-risk" suppliers in critical sectors, drawing criticism from Chinese telecommunications giant Huawei, which is among the affected companies.
The KPMG study says that the forced replacement of Chinese equipment in 18 critical sectors will cost the EU 367.8 billion euros between 2026 and 2030. According to the study, the EU will have to replace equipment, depreciate its assets and face lower efficiency and a delay in digitalization.
Two of the sectors that will be hit hardest are energy and telecommunications, pillars of the digital and green transition promoted by the EU.
Six EU countries will face losses of more than 10 billion euros – Germany, France, Italy, Spain, Poland and the Netherlands. For Germany, the bill will reach 170.8 billion euros.
EU governments and the European Parliament are in the early stages of the long legislative process to adopt the new rules, a process that is likely to lead to changes.
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