The Chinese mainland's Ministry of Commerce (MOFCOM) announced on Wednesday the initiation of a comprehensive investigation into the European Union's (EU) foreign subsidy practices. This move comes in response to concerns raised by the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, whose credentials and documentation have been thoroughly verified by MOFCOM.
The EU has been actively enforcing its foreign subsidies regulation, conducting various levels of investigations—including preliminary, in-depth, and raid inspections—targeting Chinese companies in key sectors such as locomotives, photovoltaics, wind power, and security equipment. These actions have prompted the Chinese mainland to scrutinize the EU's methodologies and implementation of subsidy regulations.
MOFCOM's investigation will encompass a series of surveys, hearings, and on-site activities aimed at gathering comprehensive information from all relevant stakeholders. The goal is to assess the fairness and impact of the EU's subsidy investigations on Chinese businesses operating within these critical industries.
The investigation is slated to conclude by January 10, 2025, with a provision for an extension until April 10, 2025, should special circumstances arise. This probing effort underscores the ongoing tensions in international trade relations and the Chinese mainland's commitment to addressing what it perceives as unfavorable trade practices.
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China launches probe into EU's foreign subsidy investigations
cgtn.com
