China’s Ministry of Commerce has accused the European Union of creating trade and investment barriers through its foreign subsidy investigations targeting Chinese companies. 🌍 The dispute, which has simmered for months, highlights growing tensions over global trade rules and economic competition.
Behind the Probe
The EU launched investigations into Chinese firms in sectors like locomotives, solar panels, wind power, and security equipment under its foreign subsidies regulation. But Beijing claims these probes violated WTO principles like non-discrimination and lacked transparency. 😤 Stakeholders involved criticized the EU for ‘vague criteria,’ ‘unreasonable deadlines,’ and ‘selective enforcement’ of rules.
Economic Fallout
The ministry says Chinese companies suffered over $1.06 billion in abandoned projects due to the probes, with broader losses exceeding $1.5 billion. 💸 It warned the EU’s practices could also backfire by raising operational costs, spiking consumer prices, and causing job losses in Europe. ‘This isn’t just a China issue—it’s a lose-lose for both sides,’ the report suggests.
What’s Next?
China plans to push for dialogue with the EU to ‘ensure fair treatment’ for its businesses. 🤝 Ministry spokesperson He Yadong emphasized the need for an ‘open, predictable’ environment for trade, hinting at potential bilateral talks. For now, the trade rift remains unresolved—and the world is watching. 👀
