Still, it should be noted that a number of them are well placed to gradually overcome the challenge from China by relying increasingly on some of Europe’s own comparative advantages, such as innovation, skilled labour, technology, and the ability to produce high-quality products attached to brand names with a reputation for excellence.
1/2  BIS central bankers' speeches  Third, we jointly launched the IPSF work on common ground green taxonomy. In October 2019, the PBOC joined the IPSF with the aim to mobilize private funds for environmentally sustainable investment, together with public institutions from the EU, Singapore and other countries. China and the EU have recently set up the Taxonomy Working Group under the IPSF.