China on Thursday stated that the investigations performed by the European Union (EU) into Chinese corporations constituted “unfair trade and investment barriers.”
The announcement from China’s Commerce Ministry adopted the completion of a probe into the EU’s examination of international subsidies.
The Chinese investigation got here in response to Brussels trying into whether or not Chinese authorities subsidies damage competitors in Europe.
The two financial powers have been at loggerheads primarily as a consequence of Beijing’s renewables and electrical automobile sectors.
Beijing says EU commerce practices led to main losses
The Commerce Ministry stated the EU’s Foreign Subsidies Regulation (FSR) discriminates towards Chinese corporations.
China’s Commerce Ministry concluded that “selective enforcement” led to “Chinese products being treated worse than products from other countries.”
It additionally stated the FSR had “vague” standards for investigating international subsidies, positioned a “heavy burden” on focused firms, and had unclear procedures creating “great uncertainty.”
The ministry claimed that EU measures like shock inspections “went too far,” and investigators have been “subjective and arbitrary” about market distortion.
According to the ministry, the FSR rules triggered losses of over 15 billion yuan (€1.94 billion).
The assertion didn’t point out any steps Beijing plans to absorb response. There was no rapid response from the European Union.
mfi/lo (AFP, Reuters)
https://www.dw.com/en/china-accuses-eu-of-discriminatory-trade-practices/a-71252698?maca=en-rss-en-bus-2091-rdf