Wang, Chinese Foreign Minister
"EU Investigation Disrupts Global Auto Industry and Supply Chains"
Wang Yi, China's Foreign Minister, criticized the European Union (EU)'s ongoing investigation into subsidies for Chinese electric vehicles as a 'violation of international trade rules.'
According to the Chinese Foreign Ministry on the 28th, Minister Wang criticized the EU's plan to investigate electric vehicle subsidies during a phone call with Hungarian Foreign Minister P?ter Szijj?rt? the previous day and requested support from Hungary.
Minister Wang stated, "The EU's investigation into subsidies for Chinese electric vehicles violates the fundamental rules of international trade and may disrupt the global automotive industry and supply chains," adding, "China will continue on the path of environmentally friendly, low-carbon, and sustainable development, which aligns with the EU's development direction."
He said, "China and Europe are not rivals but partners," and added, "We hope Europe adopts a positive and open policy of cooperation with China and practices genuine multilateralism together." He also requested Hungary's efforts to ensure that China-Europe relations develop healthily and stably.
China is Hungary's largest trading partner and largest investor outside the European Union (EU). Hungary was also the first European country to participate in China's Belt and Road Initiative (land and maritime Silk Road), and the two countries maintain close ties. Accordingly, China explained its position on the EU's investigation into electric vehicle subsidies to Hungary, a close partner, and asked for support.
Earlier, on the 13th, the European Commission formalized an investigation into subsidies, stating that cheap electric vehicle manufacturers receiving Chinese government subsidies are seriously distorting the market. The EU plans to raise tariffs on imported Chinese electric vehicles from the current 10%. In contrast, China strongly opposes this measure, claiming it restricts the development of its electric vehicle industry.
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