BRUSSELS: & nbsp, China expressed dissatisfaction on Wednesday( Oct. 4 ) in response to the European Union’s request that it participate in consultations on its investigation into subsidies for electric vehicles within a” very short” period of time.
The comments were made as the European Commission officially began its investigation into whether to impose tariffs to protect its producers from a” flood” of imports of less expensive Chinese electric vehicles ( EV ), which it claims benefit from state subsidies.
However, the anti-subsidy analysis left China” very much dissatisfied” because it lacked sufficient information and violated World Trade Organization regulations, according to a statement from the nation’s commerce ministry.
It claimed that in order to protect the rights and interests of its businesses, the Chinese side do pay close attention to the Commission’s analytical procedures because it had not received sufficient discussion materials.
China also urged the European Union to apply business solutions” prudently” in order to protect the security of the global supply chain and a proper partnership between the two.
China had been invited for consultations, but it did not provide a period, according to an announcement in the republic’s established journal that coincided with the official launch of the EU analysis.
According to the Commission’s data, suppliers in China frequently benefited from subsidies, harming EU business.
It listed these as being in the form of grants, funding from state-owned businesses on favorable terms, tax breaks, subsidies and exclusions, and express delivery of goods or services, such as natural materials and parts, at less-than-affordable costs.
It claimed that grants had facilitated a quick increase in inexpensive imports into the European Union and that potential increases in China’s anticipated overcapacity were likely to follow.
According to the European Commission, China now sells 8 % of EVs in Europe and could do so in 15 % by 2025.
The book set a timeframe of 37 days for comments and advised all parties requesting hearings to do so within 15 days.