October 15th, the Ministry of Commerce held its regular press conference.
The American consumer news and business channel (CNBC) asked, as reported by European Commission Trade and Economic Affairs Commissioner Jyrry Seppälä on Friday, that the consensus reached between China and Europe regarding hybrid car exports stems from China's understanding of European public opinion. What is China's response to this? Additionally, will the rare earth export licenses mentioned by the European Commission be affected by the Sino-US trade negotiations in January?
Spokesperson of the Ministry of Commerce, Mr. He Yādōng, stated:
Regarding the first issue you mentioned, I would like to emphasize that the understanding reached by both parties in the field of hybrid vehicles is mutually beneficial and based on three principles emphasized and confirmed under the framework of WTO rules: compliance throughout the process, respect for facts, and non-discrimination. This consensus effectively safeguarded the actual interests of Chinese enterprises and prevented the escalation of trade disputes between China and Europe. This fully demonstrates that consultations based on rules between China and Europe can not only resolve issues but also deepen mutually beneficial cooperation, promoting a balanced and forward-looking development of Sino-European trade.
Regarding the second issue you mentioned, China is willing to continue providing facilitation for the approval of exports of rare earths to Europe. China also hopes that Europe will provide similar facilitation for key licensing cases in the dual-use field with China. Together with Europe, China will continue to leverage the dialogue mechanism on export controls to promote the development of trade in dual-use items between the two sides.
