China EU Photo: VCG

Technical teams from China and the EU are actively negotiating a flexible price undertaking solution, as directed by the consultation of Chinese Minister of Commerce Wang Wentao and European Commission (EC) Executive Vice President and Trade Commissioner Valdis Dombrovskis, regarding the EU's ongoing anti-subsidy investigation into Chinese electric vehicles (EVs), He Yongqian, spokesperson of the Chinese Ministry of Commerce (MOFCOM), said on Thursday.

He's remarks came after Wang and Dombrovskis held a comprehensive, in-depth and constructive consultation in Brussels on September 19 on the EU's anti-subsidy investigation into China-made EVs. 

During the meeting, both sides clearly expressed their political willingness to resolve differences through consultation and agreed to continue advancing negotiations on price commitments, and to spare no effort to reach a mutually acceptable solution through friendly dialogue and consultation, He noted.

"The technical teams from both sides are currently working diligently on negotiating a flexible price undertaking solution, as directed by the consultation, striving to reach a consensus on the solution before the final ruling," He said, noting that China has the utmost sincerity to properly resolve differences through dialogue and consultation, as well as the firmest determination to safeguard the legitimate interests of Chinese enterprises.

The bloc is currently working to add a provision to the draft legislation to allow talks to keep going, which member states are now expected to vote on by early next month, according to a report by Bloomberg on Wednesday.

The EU's executive arm has repeatedly said that any alternative to tariffs has to have strict requirements. It must align with WTO rules, address the impact of China's subsidies and be something the EU can monitor for compliance, the report said.

Lin Jian, spokesperson of China's Foreign Ministry, told a press conference on September 18 that China has, since the very beginning, shown utmost sincerity, been committed to settling the issue through dialogue and consultation, and made flexible proposals. 

"We hope that the EU will show sincerity, take action and take a serious look at the Chinese EV sector's legitimate concerns and proposals," Lin said.

If the EC is bent on making the wrong decision, China will take what is necessary to firmly safeguard the lawful rights and interests of our companies and the EV sector, Lin noted.

Global Times