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China denounces European investigation into electric vehicles

2023-09-14 17:42:00, Aktualitet CNA

China denounces European investigation into electric vehicles

China warned on Thursday that the review of Chinese state subsidies for electric vehicles would have a "negative impact" on economic and trade ties between the bloc and Beijing.

The Chinese Ministry of Commerce said the decision to launch the investigation was motivated by a desire to protect European markets from competition.

"China believes that the investigative measures proposed by the European Union are in reality to protect its industry in the name of 'fair competition,'" the Commerce Ministry said in a statement.

"It is a blatant protectionist act that will seriously disrupt and distort the global automotive industry and supply chain, including the EU, and have a negative impact on China-EU economic and trade relations," he added .

China urged the EU to "conduct dialogue and consultation with the Chinese side, create a fair, non-discriminatory and predictable market environment for the joint development of the China-EU electric vehicle industry."

European Commission President Ursula von der Leyen announced the anti-subsidy investigation on Wednesday, vowing to protect the 27-member bloc's automakers against unfair competition.

China will "pay attention to the protectionist trend and subsequent actions of the European side, and resolutely protect the legitimate rights and interests of Chinese enterprises."

The investigation could further strain the EU's ties with China, which are already strained, in part due to trade and investment imbalances.

Last year, Beijing's exports to the EU rose 8.6% to $562 billion, according to Chinese customs data.

But imports from the EU fell 7.9% to $285 billion due to weaker Chinese demand and widened the EU's trade deficit with the Asian giant for a second year running./ CNA





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