Current location:world >>
Concerns over anti
world87644People have gathered around
IntroductionA row of new energy vehicles await shipment from Ganzhou, Jiangxi province, via a rail-sea intermoda ...
A row of new energy vehicles await shipment from Ganzhou, Jiangxi province, via a rail-sea intermodal transport service, to Rotterdam Port, the Netherlands in September. HU JIANGTAO/FOR CHINA DAILY
Growing consensus among manufacturers is investigation 'could do more harm than good'
The Financial Times and other influential Western newspapers are siding with executives from European automakers in voicing concern over the European Union's anti-subsidy investigation into imports of China-made electric vehicles.
Despite clear objections from the Chinese side, the EU announced the start of the investigation on Wednesday. The move came after European Commission President Ursula von der Leyen's address in September, claiming that global markets are being "flooded" with cheaper Chinese electric cars.
The investigation into subsidies for China-made electric vehicles exported to Europe "could do more harm than good", BMW's chief financial officer Walter Mertl said in a Friday interview with Reuters, during which he stated he did not endorse punitive tariffs.
BMW exports the iX3 from China to other parts of the world and its electric MINI vehicles will follow suit from around 2024, leaving it vulnerable to possible EU tariffs on imports from China. Mertl said the investigation would shield those who do not have significant sales in China but would affect every automaker doing business in the country, which is the world's largest vehicle market.
The Financial Times and Politico, a Washington-based publication, pointed out the EU's probe was primarily the result of pressure from the French government. French marques including Peugeot, Citroen and Renault have lackluster performance in China. Politico also reported the move is on the commission's own initiative, a so-called ex-officio investigation, instead of being triggered following a formal complaint from the EU industry, as is usually the case.
The commission said subsidies had allowed a rapid rise of cheap imports into the EU, with expected overcapacity in China likely to lead to further increases in the near future. It said the alleged subsidies were in the form of grants, loans from State-owned banks on preferential terms, tax cuts, rebates and exemptions and state provision of goods or services, such as raw materials and components, at less than adequate prices.
China's NEV subsidies, which were introduced in 2009 to stimulate the sector's development, were phased out completely by the end of 2022 after several rounds of gradual cuts.
China is "very much dissatisfied "with the anti-subsidy investigation as it lacks adequate evidence and does not conform to World Trade Organization rules, the Ministry of Commerce said in a statement issued in Beijing on Wednesday.
It said the Chinese side has not been given adequate consultation materials, in addition to a very short time to engage in consultations. The European Commission advised parties wanting a hearing to request one within 15 days.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“World Wanderer news portal”。http://angola.soorot.com/content-98e199822.html
Related articles
Tom Brady and Jay
worldA small group of NFL rookies from the 2024 class, including Caleb Williams and Drake Maye, sat down ...
【world】
Read moreMaryland governor signs bill to rebuild Pimlico, home of the Preakness Stakes
worldANNAPOLIS, Md. (AP) — Maryland Gov. Wes Moore signed a measure on Thursday to rebuild Baltimore’s hi ...
【world】
Read moreGuyana says it gave permission for the US military to fly 2 powerful jets over the capital
worldGEORGETOWN, Guyana (AP) — Guyana’s government on Thursday said it gave permission for the U.S. milit ...
【world】
Read more
Popular articles
- Here comes the char
- Beach League: 5 NFL teams will hold training camp in Southern California this year
- Man acquitted of supporting plot to kidnap Michigan governor is running for sheriff
- Bucks' Patrick Beverley suspended 4 games without pay for actions in season
- Iran helicopter crash that killed President Raisi could reverberate across the Middle East
- Colorado woman tried to steal a pickup, but couldn't handle the stick shift, police said
Latest articles
Not so Cool Britannia! Noel Gallagher gives damning verdict on Keir Starmer
Kohli propels Bengaluru to 60
Xavier University cancels UN ambassador’s commencement speech after student outcry
Scammer who claimed to be an Irish heiress should be extradited to UK, judge rules
Tom Brady and Jay
NCAA removes cap on official recruiting visits in basketball to deal with unlimited transfers
LINKS
- Chinese Delegation Advocates World Without Gender Discrimination at UN CSW68
- ACWF Holds Meeting for Presidents of Provincial
- ACWF Calls on Women to Follow Party's Leadership, Embark on New Journey
- China's Women Olympic Athletes Honored
- Financial Inclusion for Women Advocated at UN
- People Visit Lantern Show in Xinjiang
- National Campaign on Caring for Children in Winter Vacation Launched
- ACWF Enhances Capacity Building for Women's Social Organizations in Western China
- Huang Addresses Second Women Power Forum, Inaugural Ceremony of HKFW's Board (2021
- More Benefits to Chinese Women over Past Decade