China banks on heavy state interference to foster a few large and successful international champions <a target="_blank" href="https://www.flickr.com/photos/sharkbait/221276758/">(Photo: A bloke called Jerm)</a>
China banks on heavy state interference to foster a few large and successful international champions (Photo: A bloke called Jerm)

Economy

EU defends new trade rules after Chinese criticism

By Eszter Zalan,
Brussels
,

The EU on Thursday (21 December) defended a report on China’s market distortion practices saying new European rules against cheap imports did not target any one country.

The EU had, on Wednesday, introduced trade defence rules designed to combat dumping. It also published its first report on state induced market distortions in China, partly to help EU producers who want to lodge complaints.

China’s foreign ministry said on Thursday the EU’s conclusions on China’s economic development were “thoughtless remarks”. It also accused the EU of being hypocritical and said it had “fabricated excuses”.

“We urge the EU to strictly respect WTO rules,” said foreign ministry spokeswoman Hua Chunying said, referring to the World Trade Organisation.

“Every country enjoys the right to choose its own development path, which should be respected by the international community,” said Chinese ministry of commerce spokesperson Gao Feng.

The EU insists the new measures, including the report, are not aimed at China.

“It is a proposal, which is not against any country, it is neutral, the idea is for trade defence instruments be fit for purpose, and fit to meet the challenges that exist globally,” a spokesman for the commission told reporters on Thursday.

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China banks on heavy state interference to foster a few large and successful international champions (Photo: A bloke called Jerm)