China promises to import more goods and services from France
Kyiv • UNN
China promises to import more high-quality goods and services from France amid ongoing trade tensions over the export of Chinese electric vehicles to Europe.
Chinese Foreign Minister Wang Yi said that China will import more high-quality goods and services from the EU; he also hopes that Europe's risk reduction policy is not directed against China.
This was reported by UNN with reference to Reuters.
China on Monday pledged to import more high-quality products and services from France. Foreign Minister Wang Yi made the announcement at a press conference with his French counterpart Stephane Sejourne on Monday.
This statement comes amid an ongoing European investigation into the export of Chinese electric vehicles, which was supported by Paris and threatened to provoke a tit-for-tat trade dispute between France and China, the publication notes.
Context
The European Union is currently considering the possibility of imposing punitive tariffs on Chinese cars, not least at the initiative of France, in order to protect the domestic industry. An investigation is currently underway into whether Chinese electric vehicle manufacturers receive subsidies that distort competition. The investigation should be completed this year. In response, in January, China launched an anti-dumping investigation into imports of brandy from Europe, the vast majority of which originates in France. This month, China's Minister of Commerce will visit Europe, accompanied by representatives of leading automakers BYD, Saic and Geely, to discuss the European Commission's investigation.
Recall
Chinese Prime Minister Li Keqiang will not hold his annual press conference after this year's parliamentary session, ending a 30-year tradition and signaling a decline in the prime minister's authority under President Xi Jinping.
