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BEIJING (AP) — China vigorously protested Wednesday the U.S. Commerce Department’s latest update of export controls to prevent exports to China of advanced computer chips and the equipment to make them. The updates also introduce new requirements that make it harder for China to manufacture advanced chips in other countries. The list of manufacturing equipment that falls under the export controls also was expanded, among other changes. In an August meeting, Raimondo and her Chinese counterparts agreed to exchange information about the export controls. The two leaders met last year following the Group of 20 summit in Bali, Indonesia, shortly after the export controls were announced.

Persons: “, Gina Raimondo, ”, Raimondo, Joe Biden, Xi Jinping Organizations: BEIJING, U.S . Commerce, China’s Commerce Ministry, Chinese Commerce Ministry, . Commerce, Economic Cooperation Locations: China, Washington, U.S, Beijing, Macao, Asia, San Francisco, Bali , Indonesia

☆ The world will pay a high price if China cuts off supplies of chipmaking materials
▼ + stars: | 2023-10-11 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Last year, it accounted for 98% of the global production of gallium and 68% of refined germanium production, according to the US Geological Survey (USGS). “Refining technologies and facilities for processing gallium and germanium cannot be built overnight, particularly considering the environmental implications of their extraction and mining,” she wrote in July. Analysts from the think tank said China’s leading position in the aluminum industry has allowed it to establish a dominant share of global gallium production. According to the USGS, Russia, Japan, and Korea produced a combined 1.8% of global gallium in 2022. Last year, the US Defense logistics Agency introduced a program to recycle optical-grade germanium used in weapon systems.

Persons: Hong Kong CNN —, ”, Xiaomeng Lu, Marina Zhang, Zhang, Ewa Manthey, haven’t, Chris Miller, Gregory Allen, Nyrstar, ” Lu, Manthey Organizations: Hong Kong CNN, geotechnology, Eurasia Group, China, Geological Survey, University of Technology, “, ING Group, Center for Strategic, International Studies, Washington, Analysts, Corporation, CNN, Global, Wadhwani Center, AI, Technologies, CSIS, Rostec, Reuters, US Defense, Agency, Commerce Ministry Locations: China, Hong Kong, Beijing, United States, Europe, Japan, University of Technology Sydney, Kazakhstan, Hungary, Germany, Russia, Korea, Teck, American, Netherlands, Australia, ” Lu, Eurasia, Canada

☆ U.S. senators led by Majority Leader Schumer make first congressional visit to China since 2019
▼ + stars: | 2023-10-07 | by ( ) www.cnbc.com time to read: +3 min

Senator Mike Crapo (R-ID) and other members of the delegation arrive at Shanghai Pudong International Airport in Shanghai, China, on Oct. 7, 2023. A delegation of U.S. lawmakers led by Senate Majority Leader Chuck Schumer arrived in China on Saturday in the first congressional visit to the country since 2019. Asked about his expectations for the visit, Schumer, a New York Democrat, said he hoped it would be productive. The U.S. Commerce Department added the Chinese companies and seven others to its entity list on Friday. A Chinese international relations expert said that Schumer's visit is a sign of improvement in China-U.S. relations.

Persons: Chuck Schumer, Mike Crapo, Joe Biden, Xi Jinping, Idaho Sen, Schumer, Biden, Xi, Wang Yiwei, Karine Jean, Pierre Organizations: International, U.S, Senate, Republicans, Idaho, Senate Finance, New, New York Democrat, U.S . Congress, U.S . Commerce Department, Ukraine, Biden, Economic Cooperation, Institute of International Affairs, Renmin University of China, White House Press Locations: U.S, Shanghai, China, New York, Beijing, Russia, Asia, San Francisco, South Korea, Japan

☆ China rebukes EU, says it is rushing consultations in EV subsidy probe
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +1 min

Car miniature, "Electric vechicles (EVs)" words, EU and Chinese flags are seen in this illustration taken, September 26, 2023. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsSINGAPORE, Oct 4 (Reuters) - China said on Wednesday that a demand by the European Union that it partipate in consultations within a "very short" period of time about a probe into electric vehicle subsidies is a severe infringment of China's rights. The Chinese side had not been given adequate consultation materials, the Chinese Commerce ministry said in a statement. The European Commission has said it will investigate whether to impose tariffs to shield European producers from a "flood" of cheaper Chinese electric vehicle (EV) imports it says benefit from state subsidies. China will pay close attention to the commission's investigative procedures and will safeguard the rights and interests of Chinese firms, it added.

Persons: Dado Ruvic, Chen Aizhu, Christian Schmollinger Organizations: REUTERS, Rights, European Union, Commerce, European, World Trade Organization, Thomson Locations: Rights SINGAPORE, China

☆ China rebukes EU after formal launch of EV subsidy probe
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +2 min

Car miniature, "Electric vechicles (EVs)" words, EU and Chinese flags are seen in this illustration taken, September 26, 2023. China also urged the European Union to safeguard the stability of the global supply chain and a strategic partnership between the two, while "prudently" applying trade remedies. The formal launch of the EU investigation came with an announcement in the bloc's official journal, which said China had been invited for consultations, although it did not give a timeframe. Information gathered by the Commission tended to show that producers in China benefited from subsidies to the detriment of EU industry, it added. The European Commission has said China's share of EVs sold in Europe has risen to 8% and could reach 15% in 2025.

Persons: Dado Ruvic, EVs, Chen Aizhu, Philip Blenkinsop, Christian Schmollinger, Clarence Fernandez Organizations: REUTERS, Rights, European Union, European Commission, World Trade Organization, Commission, European, Thomson Locations: Rights SINGAPORE, BRUSSELS, China, Europe

☆ How surging trade with China is boosting Russia’s war
▼ + stars: | 2023-09-28 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +15 min

Mikhail Tereshchenko | Afp | Getty ImagesThe defense ministries of China and Russia did not respond to CNBC's request for comment on the trade flows. Trade of 'dual-use' goods spikesTotal bilateral trade between Russia and China hit a record high of $190 billion in 2022, up 30% from 2021. Semiconductor sales to Russia from China and Hong Kong more than doubled in 2022 as Western sanctions took hold. Meantime, construction equipment has played an "underappreciated" but significant role in China's contribution to Russia's war efforts, having helped bolster its defenses against Ukraine's counteroffensive, Joseph Webster, senior fellow at the Atlantic Council, said. The findings add to the growing list of Chinese goods and companies reported to be supplying Russia's military, including state-owned enterprises.

Persons: Vladimir Putin's, Mark Cancian, Vladimir Putin, Xi Jinping, Mikhail Tereshchenko, Wang Yi, China's, Putin, Li Shangfu, —, Qilai Shen, Antonia Hmaidi, Cancian, they've, Hong Kong Retekess, Legittelecom, It's, Silva, Hmaidi, Joseph Webster, Webster, that's, Ramzan Kadyrov, Russia's Organizations: CNBC, for Strategic, International Studies, Kremlin, Afp, Getty, Ukraine's Defense Ministry, Ukrainian Armed Forces, Bank of Finland's Institute, Emerging, Semiconductor, CNBC CNBC, Federal, Service, SZ DJI Technology, Robotics, Iflight, SZ, Technology, Bloomberg, Rostov, R Technology, Beijing KRnatural International Trade Co, Mercator Institute for China Studies Defense, Industry, Hong, Mercator Institute for China Studies, Moscow, ImportGenius, Ukraine's, Atlantic Council, Atlantic, U.S, China Taly Aviation Technologies, China Poly Technologies, EU, Beijing, National Security Council Locations: Ukraine, China, Washington, Russian, Moscow, Russia, Beijing, U.S, Kyiv, Hong Kong, Shenzhen, DJI, Liaoning, Shanghai, Berlin, Buryatia, Hubei, Korea, Pyongyang, Russia's, Amur, Chechen Republic, Qianwan, Qingdao Port, Shandong Province, deniability

☆ China says it opposes US inclusion of Chinese entities in export control list
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: 1 min

China's and U.S.' flags are seen printed on paper in this illustration taken January 27, 2022. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsBEIJING, Sept 27 (Reuters) - China resolutely opposes the United States putting some Chinese entities into an export control list and imposing sanctions, the commerce ministry said on Wednesday. "The U.S. should immediately correct its wrongdoings and stop its unreasonable suppression of Chinese enterprises and individuals," the ministry added. Reporting by Beijing newsroom; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Himani Sarkar Organizations: REUTERS, Rights, United, Beijing, Thomson Locations: Rights BEIJING, China, United States, U.S

Hong Kong/Taipei CNN —China and the European Union have agreed to exchange information on export controls as part of efforts to dial down tension over trade imbalances and geopolitical issues. I am glad that we made progress in addressing some market access issues,” Valdis Dombrovskis said in a statement. Hours before meeting He on Monday, Dombrovskis said China’s trade practices have forced the European Union to become more assertive in its dealings with the world’s second largest economy. China recently slapped export curbs on two semiconductor materials in a warning shot to Europe and the United States, after they imposed restrictions on China’s access to advanced chipmaking equipment. Moscow has become increasingly dependent on Beijing since its full-scale invasion of Ukraine in 2022, with trade between Russia and China soaring this year.

Persons: rebalancing, ” Valdis Dombrovskis, Dombrovskis, ”, ” Jorge Toledo, it’s, ” Dombrovskis, — Laura Organizations: Taipei CNN —, European Union, European Commission, EU, Union, Tsinghua University, China, Reuters Locations: China, Hong Kong, Taipei, Taipei CNN — China, Beijing, ”, EU, Europe, United States, Ukraine, Moscow, Russia

☆ EU trade chief promises more 'assertive' approach to China as deficit soars
▼ + stars: | 2023-09-25 | by ( Laura He | ) edition.cnn.com time to read: +4 min

And we will be more assertive in tackling unfairness.”The trade chief’s visit comes as tensions flare between the bloc and China over trade imbalances and geopolitical issues. The bloc’s trade deficit with China hit 396 billion euros ($421 billion) last year, which was “the highest in the history of mankind,” Jorge Toledo, the EU ambassador to China, was quoted by Reuters as saying. Dombrovskis said China’s new foreign relations law and its newly broadened counter-espionage law, in particular, were of “great concern” to European business. Two months later, it unveiled a sweeping foreign relations law enshrining its right to impose “countermeasures” against actions that it deems a threat. Russia has become increasingly dependent on China since the Kremlin ordered the full-scale invasion of Ukraine in February 2022.

Persons: Hong Kong CNN —, Valdis Dombrovskis, “, ” Dombrovskis, ” Jorge Toledo, Dombrovskis, ”, enshrining, Vladimir Putin, — Lucas Liliholm, Manveena Suri Organizations: Hong Kong CNN, Union, Tsinghua University, EU, China, Reuters, European Union, West, EU Chamber of Commerce, Kremlin Locations: China, Hong Kong, Beijing, Europe, EU, United States, Ukraine, Russia

☆ Shanghai, Beijing capital controls relaxed as China entices badly needed foreign investment
▼ + stars: | 2023-09-22 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Shanghai’s free trade zone is one of China’s largest and is slightly bigger than the city of Seattle. The policies are aimed at attracting foreign investment to build an open economy, the government said. Thursday’s measures are the latest effort by Chinese leader Xi Jinping’s government to woo foreign capital and stabilize ties with the West. China has made a series of moves recently to stabilize foreign trade and investment, including cutting a tax on stock trading for the first time since 2008. The latest relaxation in capital controls is part of a policy package announced by Beijing and Shanghai, the country’s two biggest cities, to facilitate foreign trade and investment.

Persons: Tesla’s Gigafactory, Stringer, Xi Jinping’s, JP Morgan, Tesla Organizations: Hong Kong CNN, HP, AstraZeneca, Getty, State Administration of Foreign Exchange, American Chamber of Commerce, People’s Bank of, HSBC Locations: China, Hong Kong, Shanghai, Beijing, Seattle, BlackRock, AFP, People’s Bank of China, Macao, Taiwan

☆ China has issued some export licences for gallium and germanium
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: 1 min

The flag of China is placed next to the elements of Gallium and Germanium on a periodic table, in this illustration picture taken on July 6, 2023. REUTERS/Florence Lo/Illustration Acquire Licensing RightsBEIJING, Sept 21 (Reuters) - Some Chinese companies have obtained export licences for gallium and germanium products, the commerce ministry said on Thursday, after Beijing introduced new conditions for exports on Aug. 1. The Ministry of Commerce has approved applications from some companies that meet relevant requirements, spokesman He Yadong said at a regular press briefing. Reporting by Joe Cash, Albee Zhang, and Amy Lv in Beijing; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Yadong, Joe Cash, Albee Zhang, Amy Lv, Jason Neely Organizations: REUTERS, Rights, of Commerce, Thomson Locations: China, Rights BEIJING, Beijing

[1/2] The Tesla Energy Powerwall Home Battery is unveiled by Tesla Motors CEO Elon Musk during an event in Hawthorne, California April 30, 2015. Although Tesla sought a number of incentives to set up a battery storage factory, Indian officials conveyed these would not be available, one of the sources said. It is largely dependent on coal-based power generation as storage technologies are expensive and not yet widespread. With incentives, Powerwall costs more than $5,500 in California, with additional costs for solar panels. It is eligible for U.S. federal tax credits and local state and utility incentives for solar and energy storage.

Persons: Elon Musk, India's Modi, Tesla, Narendra Modi, company's, Musk, Modi, Aditya Kalra, Aditi Shah, Sarita Chaganti Singh, Sudarshan, Kirsten Donovan Organizations: Tesla Energy, Tesla Motors, Elon, Thomson Locations: Hawthorne , California, India, DELHI, New Delhi, Tesla's California, California, Houston, Dallas, Texas

☆ China approves export licences for chip materials gallium, germanium
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

The flag of China is placed next to the elements of Gallium and Germanium on a periodic table, in this illustration picture taken on July 6, 2023. REUTERS/Florence Lo/Illustration Acquire Licensing RightsBEIJING, Sept 21 (Reuters) - Some Chinese companies have obtained export licences for gallium and germanium products, the commerce ministry said on Thursday, after Beijing set new conditions on exports from Aug. 1. The comments came after China's exports of germanium and gallium items plunged in August, the first month of the export controls，customs data showed on Wednesday. China unveiled curbs that month on exports of eight gallium and six germanium products, starting from August. The new rules require exporters of germanium and gallium products to obtain an export licence for dual-use items and technologies, or those which have potential military and civilian uses.

Persons: Florence Lo, Yadong, Joe Cash, Albee Zhang, Amy Lv, Jason Neely, Clarence Fernandez Organizations: REUTERS, Rights, Thomson Locations: China, Rights BEIJING, Beijing, Washington

☆ China's gallium, germanium exports drop to zero as tech war simmers
▼ + stars: | 2023-09-21 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China’s exports of two rare minerals essential for manufacturing semiconductors fell to zero in August, a month after Beijing imposed curbs on sales overseas, citing national security. In July, the country exported 5.15 metric tons of forged gallium products and 8.1 metric tons of forged germanium products. The curbs are indicative of China’s apparent willingness to retaliate against US export controls, despite concerns about economic growth, as a tech war simmers. Prices for gallium have fallen in China, as export controls caused inventories to pile up. The model is powered by an advanced chip, which was created despite US sanctions intended to cut the Chinese tech giant off from such technology.

Persons: Biden Organizations: Hong Kong CNN —, Eurasia Group, China's Zhejiang University, China's Zhejiang University Hangzhou International Science, Innovation, Publishing, Shanghai Metal, Micron, Huawei, Semiconductor Manufacturing International Corp, Jefferies, China Locations: China, Hong Kong, Beijing, China's Zhejiang University Hangzhou, Shanghai, United States, Japan, Netherlands, Washington

☆ China, EU to hold high-level economic and trade dialogue in Beijing
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: 1 min

An attendant walks past EU and China flags ahead of the EU-China High-level Economic Dialogue at Diaoyutai State Guesthouse in Beijing, China June 25, 2018. REUTERS/Jason Lee/File photo Acquire Licensing RightsBEIJING, Sept 21 (Reuters) - The 10th China-European Union High-Level Economic and Trade Dialogue will be held in Beijing on Sept. 25, the Chinese commerce ministry said on Thursday. Chinese Vice-Premier He Lifeng will co-chair the meeting with European Commissioner for Trade Valdis Dombrovskis. Reporting by Joe Cash, Albee Zhang and Ethan Wang; Editing by Neil Fullick and Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

Persons: Jason Lee, Lifeng, Joe Cash, Albee Zhang, Ethan Wang, Neil Fullick, Himani Organizations: REUTERS, Rights, European, Trade Valdis, Thomson Locations: China, EU, Beijing, Rights BEIJING

☆ Mexico is trying to be best new trade buddies with both the US and China — but it might not be able to handle the pressure
▼ + stars: | 2023-09-20 | by ( Cork Gaines | ) www.businessinsider.com time to read: +7 min

Mexico is now America's top trade partner thanks to US-China tensions and "nearshoring." AdvertisementAdvertisementMexico's infrastructure is not readyBeing a more attractive trade partner to the US is one thing. China is now Mexico's largest trading partner globally, and Mexico is already China's second-largest trade partner in Latin America. China's Foreign Direct Investment in Mexico is still small (about 1% of Mexico's Foreign Direct Investment) but it is its fastest-growing source of outside investment. If Mexico's economy is going to surge, it needs to be more than just a middleman.

Persons: Luis Torres, —, Tesla, JULIO CESAR AGUILAR, Xi Jinping, Lintao Zhang, Kearney, Gerardo Esquivel Organizations: Service, Federal Reserve Bank of, Foreign, Investment, Bloomberg, Getty, Publishing Locations: Mexico, China, Wall, Silicon, Federal Reserve Bank of Dallas, Monterrey, Nuevo Leon, Nuevo León, Latin America, Yantai, Shandong Province, Mexican, United States

☆ EU says lack of clarity in China's data laws is concerning
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

An attendant walks past EU and China flags ahead of the EU-China High-level Economic Dialogue at Diaoyutai State Guesthouse in Beijing, China June 25, 2018. REUTERS/Jason Lee/File photo Acquire Licensing RightsBEIJING, Sept 19 (Reuters) - European Union businesses are concerned about China's data laws, including their "lack of clarity" and the "long processes" that companies have to undergo, European Commission Vice President Vera Jourova said on Tuesday. It now bans the transfer of any information related to national security and interests, without defining those terms, while widening the definition of spying to include cyberattacks against state organs or critical infrastructure. Jourova said the lack of definitions such as, for example, what constitutes important data, and the lack of clarity on how the law might be contravened was problematic as was the lengthy time it takes to complete procedural matters. China is committed to creating a fair, transparent and predictable business environment, the ministry said at the time.

Persons: Jason Lee, Vera Jourova, Xi, Jourova, Ryan Woo, Ella Cao, Edwina Gibbs Organizations: REUTERS, Rights, Union, European, Thomson Locations: China, EU, Beijing, Rights BEIJING, Europe, U.S

☆ China's PBOC woos foreign businesses as economic challenges grow
▼ + stars: | 2023-09-19 | by ( Laura He | ) edition.cnn.com time to read: +3 min

The symposium was intended to “increase financial support to help stabilize foreign trade and foreign investment” and improve the “investment environment” for foreign business, the statement said. In the first eight months of this year, foreign direct investment into China fell 5.1% from a year ago, according to data released by China’s commerce ministry on Sunday. A separate measure for foreign investment painted a grimmer picture. Companies that attended PBOC’s meeting called on Beijing to improve its business environment, its statement added. “[We] will continue to optimize policy arrangements, create a market-oriented, legal and international first-class business environment,” Pan told the companies.

Persons: Gongsheng, JP Morgan, Tesla, Gina Raimondo, ”, ” Pan Organizations: Hong Kong CNN, People’s Bank of China, HSBC, Deutsche Bank, DB, BNP, Japan’s, Bank, BASF, Schneider, State Administration of Foreign Exchange, SAFE, American Chamber of Commerce, US, Companies Locations: China, Hong Kong, Shanghai, Southeast Asia, Beijing

☆ Thailand Launches Probe Into Chinese Rolled Steel Imports
▼ + stars: | 2023-09-19 | by ( Sept. | At A.M. | ) www.usnews.com time to read: 1 min

BANGKOK (Reuters) - Thailand has launched an investigation into imports of Chinese rolled steel for evading anti-dumping measures, the commerce ministry said in a statement. The probe includes hot-rolled steel sheets in coils and non-coils from 17 manufacturers in China, according to the statement published on Sept 15. "There is sufficient evidence that there is avoidance of anti-dumping duties and so an investigation is warranted," the statement said. The announcement comes after four Thai steel makers lodged a complaint with Thailand's Foreign Trade Department. (Reporting by Chayut Setboonsarng and Panarat Thepgumpanat; Editing by Kanupriya Kapoor)

Persons: Chayut Setboonsarng, Kanupriya Kapoor Organizations: Thailand's Foreign Trade Department Locations: BANGKOK, Thailand, China

☆ China central bank, FX regulator meet foreign firms in capital drive
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +2 min

The headquarters of the People's Bank of China, the central bank, is pictured in Beijing, China, February 3, 2020. REUTERS/Jason Lee/File Photo Acquire Licensing RightsBEIJING, Sept 18 (Reuters) - China's central bank and forex regulator met with foreign financial institutions and companies on Monday, as Beijing strives to attract overseas investment to support its recovery. China will improve its policies, and create a market-oriented and international-level business climate, PBOC Governor Pan Gongsheng was quoted as saying in the statement. China has sought to court foreign capital as its economic recovery from the COVID-19 pandemic slows in the face of tepid overseas demand and property weakness. Actualised foreign direct investment into China fell 5.1% year-on year to 847.2 billion yuan ($116 billion) in the first eight months of 2023, the commerce ministry said on Friday.

Persons: Jason Lee, Morgan Stanley, Pan Gongsheng, Pan, Ellen Zhang, Ethan Wang, Bernard Orr, Louise Heavens, Alexander Smith Organizations: People's Bank of China, REUTERS, Rights, HSBC, Deutsche Bank, Council, Thomson Locations: Beijing, China, Rights BEIJING

☆ China denounces Europe probe of EVs as 'naked protectionist' act
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

[1/2] A Nio ET5 electric vehicle is displayed at the Chinese EV maker's showroom in Shanghai, China, February 3, 2023. The investigation launched on Wednesday will determine if punitive tariffs are warranted to protect EU producers from what European Commission President Ursula von der Leyen described as a "flood" of cheaper Chinese EV imports. "It is a naked protectionist act that will seriously disrupt and distort the global automotive industry and supply chain, including the EU, and will have a negative impact on China-EU economic and trade relations." The probe, initiated by the European Commission and not from any industry complaint, will further irritate a tense relationship with China partly strained by trade and investment imbalances. Reporting by Ryan Woo; additional reporting by Ellen Zhang; Editing by Clarence Fernandez and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Ursula von der Leyen, Ryan Woo, Ellen Zhang, Clarence Fernandez, Jamie Freed Organizations: EV maker's, REUTERS, Rights, European, EV, EU, European Commission, Thomson Locations: Shanghai, China, Rights BEIJING, European Union, EU

HONG KONG (AP) — China's Commerce Ministry has protested a decision by the European Union to investigate exports of Chinese electric vehicles, saying Thursday that it is a “protectionist” act aimed at distorting the supply chain. The EU announced Wednesday it will probe government subsidies provided to Chinese automakers that the EU contends keep EV prices artificially low. China has become the biggest market for electric vehicles after investing billions in subsidies to gain an edge. “It’s naked protectionist behavior that will seriously disrupt and distort the global automotive industrial chain and supply chain including the European Union, and will have a negative impact on China–EU economic and trade relations,” he said. Cui urged the EU to take an “objective view of the development of China’s electric vehicle industry” instead of using what he said are economic and trade tools to increase the costs of Chinese electric vehicles in Europe.

Persons: Yadong, “, ”, Cui Dongshu, ” Cui, Cui Organizations: —, Commerce, European Union, EU, China Passenger Car Association Locations: HONG KONG, China, EVs, Japan, Europe, Beijing, EU

☆ 'Blatantly protectionist': China sharply rebukes EU probe on Chinese EV subsidies
▼ + stars: | 2023-09-14 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

Vcg | Visual China Group | Getty ImagesChina has accused the European Union of "blatant protectionism" after its executive arm unexpectedly launched an "anti-subsidy" investigation into China's electric vehicle makers. The Chinese Commerce Ministry urged dialogue to safeguard the interests of Chinese companies and commit to global efforts to address climate change and achieve carbon neutrality. If the EU finds harm from Chinese subsidies, Brussels is likely to impose tariffs on Chinese EVs despite the risk of political and economic backlash from Beijing. "If the EU finds harm from Chinese subsidies, Brussels is likely to impose tariffs on Chinese EVs despite the risk of political and economic backlash from Beijing." EU members are demanding the regional bloc shield European carmakers from Chinese EVs that they say are heavily subsidized by the Chinese government.

Persons: Ursula von der Leyen Organizations: Visual China, Getty, European Union, Chinese Commerce Ministry, CNBC, EU, Beijing . Eurasia, of, Eurasia Group Locations: Jinhua, Zhejiang Province, China, EU, Brussels, Beijing, U.S, Europe, Strasbourg

Italy's Foreign Minister Antonio Tajani addresses the opening session on the first day of the Ukraine Recovery Conference in London, Britain June 21, 2023. The hugely ambitious project sees China strengthening trade ties with large infrastructure spending in countries along the historic Silk Road route via Asia to Europe and beyond. "China is willing to work with Italy to continue to deepen mutually beneficial cooperation, explore opportunities for potential trade and investment... and promote further development of the China-Italy comprehensive strategic partnership," said He Yadong, a commerce ministry spokesperson. SENSITIVE DIPLOMACYItaly's trade deficit with China grew by 22.3 billion euros ($23.9 billion) between 2019 and 2022, according to the Italian Ministry of Foreign Affairs. So far, 90 countries have confirmed attendance, China's foreign ministry announced on Thursday.

Persons: Antonio Tajani, Henry Nicholls, Xi Jinping, Wang Yi, Italy's, Tajani, Joe Cash, Ryan Woo, Giselda Vagnoni, Alvise Armellini, Federico Maccioni, Kim Coghill, Andrew Cawthorne Organizations: Italy's, Conference, Rights, Initiative, Italian Ministry of Foreign Affairs, RAI, American Enterprise Institute, AC Milan, Inter, Thomson Locations: Ukraine, London, Britain, Rights BEIJING, China, Italy, Beijing, Asia, Europe, Rome, Inter Milan

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