The Ministry of Commerce Photo: VCG

 

China will take all necessary measures to firmly safeguard the legitimate rights of Chinese enterprises, China's Ministry of Commerce (MOFCOM) said on Thursday, in response to the EU's multiple trade protectionist measures targeting China, which it said has escalated bilateral trade friction and heavily impacted Chinese firms' confidence in operating business in Europe. 

"We hope the European side will work with China to properly handle trade and economic frictions and take into account the reasonable concerns of both parties through dialogue and consultation," He Yadong, spokesperson of MOFCOM said.

He said, recently the EU has been hyping up China's "overcapacity" and "unfair competition," launching an intensive series of investigations into Chinese companies and products, distorting tender definitions and supplementing rules and procedures during the investigation process, which has undermined China-EU economic and trade cooperation, while the risk of friction continues to rise, which has seriously impacted Chinese companies operating in Europe. 

The overall confidence of Chinese enterprises in the European business environment has been diminished, with the EU intensively adopting unilateral measures such as probes under the EU Foreign Subsidies Regulation, the China Chamber of Commerce to the EU said on Sunday, expressing concern about the intensified situation for Chinese companies in the bloc.

The remarks were made in response to media reports that China's Great Wall Motor (GWM) is shutting its Europe headquarters in Munich, Germany, a move that has immediately drawn wide attention as the EU's protectionist moves targeting Chinese carmakers are multiplying, following in the US' footsteps.

GWM plans to close its European headquarters and lay off its all 100 employees on August 1, citing tough market conditions for electric vehicles and the threat of European tariffs on Chinese imports, according to Bloomberg.

China has always believed that China and the EU are each other's important economic and trade partners and have a good foundation for cooperation. The key to correct treatment is to expand cooperation and achieve win-win results in healthy competition, He from MOFCOM said. 

The fact that some Chinese auto companies choose to build factories in Europe is a reflection of China and Europe's complementary advantages and mutual benefit and win-win results. It is conducive to stimulating local economy and employment, and is conducive to promoting the development of Europe's new energy automobile industry, He added.

We hope that the EU and China will conscientiously implement the important consensus reached by the recent China-France-EU Trilateral Leaders' Meeting in Paris, addressing economic and trade problems through dialogue and consultation, and accommodating the important concerns of both parties, He noted. 

Global Times