Beijing says EU's proposed reforms against Chinese exports disappointing

Record ID: 79360

  • Title: Beijing says EU's proposed reforms against Chinese exports disappointing
  • Date: 10th November 2016
  • Summary: BEIJING, CHINA (NOVEMBER 10, 2016) (REUTERS) CHINA'S COMMERCE MINISTRY SPOKESMAN SHEN DANYANG WALKING IN FOR NEWS CONFERENCE MEDIA SEATED (SOUNDBITE) (Mandarin) CHINA'S COMMERCE MINISTRY SPOKESMAN, SHEN DANYANG, SAYING: "But what China feels regret is that the new method proposed by the European Commission replaces the concept and standard of non-market economy with market distortion concept and standard. It doesn't completely nullify (China's) 'surrogate country, it only allows the status quo to covertly continue. This method does not comprehensively and completely honour the obligation of Article 15 of Protocol and does not comply with WTO rules." NEWS CONFERENCE IN PROGRESS
  • Embargoed: 25th November 2016 07:24
  • Keywords: China EU exports reforms disappointing
  • Location: BEIJING, CHINA
  • City: BEIJING, CHINA
  • Country: China
  • Topics: Government/Politics,International Trade
  • Reuters ID: LVA00157V21QF
  • Aspect Ratio: 16:9
  • Story Text: China is disappointed that the European Union hasn't completely recognised its market economy status, commerce ministry spokesman Shen Danyang said on Thursday (November 10) in a sign that Beijing will continue to press the EU to relax its anti-dumping rules.
    The EU and many of China's other trading partners have been debating whether to grant China "market economy status" (MES) from mid-December, which Beijing says is its right 15 years after it joined the World Trade Organization. The United States has said China has not done enough to qualify.
    The European Commission proposed on Wednesday (November 9) a new way to assess whether Chinese manufacturers are exporting products, such as steel, at unfairly low prices.
    China said it interpreted the proposal as cancelling China's "non-market economy status" but was disappointed the European Commission had introduced the "significant distortions" clause, Shen told a regular press briefing.
    The proposal in general sets the normal reference value in dumping cases involving WTO members to domestic prices.
    However, in the event of "significant distortions" affecting domestic prices, investigators can instead use international benchmark prices, the EU proposed.
    "But what China feels regret is that the new method proposed by the European Commission replaces the concept and standard of non-market economy with market distortion concept and standard. It doesn't completely nullify (China's) 'surrogate country, it only allows the status quo to covertly continue. This method does not comprehensively and completely honour the obligation of Article 15 of Protocol and does not comply with WTO rules," Shen told media in Beijing.
    The new standard should be "fair, reasonable, transparent and should not just be a new form of discrimination," he added.
    EU trade ministers are expected to discuss the new anti-dumping measures at a meeting on Friday along with other plans to modernise the EU's trade defence arsenal.
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