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China’s commerce minister speaks to Europe in talks with top Chinese automakers BYD and CATL as they prepare to discuss the bloc’s ongoing investigation into whether China’s EV industry is benefiting from unfair subsidies. The visit began.
Beijing Youth Daily | Visual China Group | Getty Images
China’s commerce minister speaks to Europe in talks with top Chinese automakers BYD and CATL as they prepare to discuss the bloc’s ongoing investigation into whether China’s EV industry is benefiting from unfair subsidies. The visit began.
Wang Wentao held a roundtable discussion in Paris on Sunday with representatives from more than 10 companies, including Geely, according to a statement released by the Ministry of Commerce on Monday.
During the meeting, he reiterated the Chinese government’s position that Chinese EV companies do not rely on subsidies to gain a competitive advantage, and said that accusations of “overcapacity” by the United States and Europe are unfounded. He said no.
“Chinese electric vehicle enterprises do not rely on subsidies to gain competitive advantage, but rely on continuous technological innovation, perfect production and supply chain systems, and perfect market competition for rapid development. ,” Wang said.
He also said that the Chinese government will actively support enterprises to protect their legitimate rights and interests.
Four sources briefed on Wang’s visit told Reuters in late March that the talks were focused on a European Commission investigation that began late last year and aimed at protecting European carmakers. The aim is to decide whether to impose tariffs on exports, he said. China has a significant lead over European companies, especially in the development of low-cost EV models.
The investigation is expected to conclude by November, but the EU executive branch could impose interim tariffs sooner.
Reuters reported on Sunday, citing people briefed on the meeting, that Wang and Renault chief executive Luca De Meo, who is also acting president of the European Automobile Manufacturers Association, spoke on Sunday. I was scheduled to have a meeting with.
He also plans to attend a dinner with cosmetics industry executives later Sunday, two other people familiar with the plans said.
French Finance Minister Bruno Le Maire said he planned to meet with Mr. Wang on Monday. China’s Ministry of Trade did not respond to a request for comment.
U.S. Treasury Secretary Janet Yellen, currently on a visit to China, said there is growing global concern about China’s excess industrial capacity, which she says is unhealthy for China and hurting producers in other countries. did.
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