A Ministry of Commerce spokesman answered questions from reporters regarding the EU summit's proposed “dual track” approach to China. Q: According to media reports, the EU believes that its pressure on China in the hybrid vehicle negotiations has paid off and plans to impose restrictions on more industries. The EU summit held recently proposed a “dual track” approach to China. While continuing intensive negotiations, restrictions on China will be increased, and even the use of “anti-coercion” tools. What comments does the Chinese side have on this? A: The Chinese side has taken note of the relevant reports. According to the three principles of compliance with WTO rules, fact-based and non-discrimination as determined by both sides, the understanding reached on hybrid vehicles is mutually beneficial. It not only strongly protects the actual interests of Chinese enterprises, but also responds to European concerns and avoids the escalation of trade friction between China and Europe. The claim that “European pressure worked” has no basis. The purpose of the Sino-European economic and trade negotiations is to settle differences and take care of each other's concerns through dialogue and negotiation. Both parties must show sincerity in solving the problem. The European side must not imagine using pressure in exchange for benefits, let alone underestimate China's determination and ability to protect its own interests. We urge Europe and China to move in the opposite direction and promote the healthy and stable development of Sino-European economic and trade relations.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.