A report by New York-based Rhodium Group, a research consultancy, in April showed that Chinese restrictions on foreign investment are higher in every single sector save real estate, compared to the European Union, while many of the big Chinese takeovers in the bloc would not have been possible for EU companies in China.
China has promised to open up. But EU officials expect any moves to be more symbolic than substantive.
They say China's decision in May to lower tariffs on imported cars will make little difference because imports make up such a small part of the market. China's plans to move rapidly to electric vehicles mean that any new benefits it offers traditional European carmakers will be fleeting.
"Whenever the train has left the station we are allowed to enter the platform," a Beijing-based European executive said.
However, China's offer at the upcoming summit to open up reflects Beijing's concern that it is set to face tighter EU controls, and regulators are also blocking Chinese takeover attempts in the United States.
The European Union is seeking to pass legislation to allow greater scrutiny of foreign investments.
"We don't know if this offer to open up is genuine yet," a third EU diplomat said. "It's unlikely to mark a systemic change."
