According to the report by The Paper, on May 28, Foreign Ministry spokesperson Mao Ning presided over a regular press conference. A AFP reporter asked that, according to reports, the EU plans to expand its tools to address trade imbalances with China. These measures include setting import quotas and tariffs, with the aim of protecting certain industries such as chemicals and clean technology from unfair competition. What is Chinas comment on this?
Mao Ning stated that international trade is a two-way process, and there is no forced buying or selling. The essence of China-EU economic and trade relations is mutual benefit and cooperation. China never deliberately seeks a trade surplus with Europe. If we only consider trade in goods, ignoring services and investment returns; if we only focus on trade figures, ignoring the structure of trade and the flow of profits; if we only consider imports from China, while ignoring our own restrictions on exports, then it is natural to reach a one-sided conclusion regarding trade imbalances.
Mao Ning pointed out that both measures aimed at reducing risks and dependence, as well as those related to trade balance, are actually forms of protectionism. Such measures only serve to harm the interests of European consumers, increase the costs for businesses, and weaken the long-term competitiveness of industries.
European countries should view China-Europe economic and trade relations in a comprehensive and objective manner, and must abide by their commitments to free trade. The Chinese side is also closely monitoring the actions of European countries and will take necessary measures to protect its legitimate rights and interests, she said.
According to Bloomberg, the European Union will hold important discussions regarding its policies towards China this Friday. The meeting aims to discuss the use of new tools to address the issue of overcapacity in Chinas manufacturing industry. However, there are significant differences among the EU member states regarding this issue.
Germanys Economic Minister Riechel issued a warning during his visit to Beijing on the 27th, stating that any measures taken by the EU against China should not harm Europes exports to China.
