China's Commerce Minister, Wang Wentao, commenced his European tour with a major meeting involving leading Chinese electric vehicle (EV) manufacturers BYD and CATL. <o:p></o:p>

The assembly, held in Paris, marked the initiation of discussions ahead of the ongoing European Commission inquiry probing potential unfair advantages stemming from subsidies within China's EV industry.<o:p></o:p>

Wang's meeting with representatives from over ten enterprises, including Geely, indicated China's stance on EV development. <o:p></o:p>

Contrary to accusations of undue subsidies aiding Chinese companies, Wang said that innovation, strong supply chains, and fair market competition drive the sector's growth, not state aid. <o:p></o:p>

He assured firms of Beijing's active support in safeguarding their lawful interests.<o:p></o:p>

The discussions, as revealed by sources briefed on Wang's agenda, centre on the European Commission's investigation initiated late last year. <o:p></o:p>

Aimed at assessing if tariffs are necessary to protect European automakers from Chinese competition, the inquiry is an indication of China's lead in affordable EV models. <o:p></o:p>

The investigation is expected to conclude by November, with provisional duties possibly imposed earlier. <o:p></o:p>

Wang's itinerary also included a meeting with Renault's CEO and the acting chairman of the European Automobile Manufacturers' Association, Luca de Meo, demonstrating the broad scope of engagements during his visit. <o:p></o:p>

Additionally, he had planned to convene with executives from the cosmetics industry. <o:p></o:p>

As Wang navigates diplomatic and economic engagements in Europe, attention shifts to the broader context of global concerns regarding China's industrial capacity. <o:p></o:p>

US Treasury Secretary Janet Yellen, concurrently in China, voiced apprehensions about the adverse effects of China's industrial competition with international markets. <o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

China's Commerce Minister, Wang Wentao, commenced his European tour with a major meeting involving leading Chinese electric vehicle (EV) manufacturers BYD and CATL.

China's Commerce Minister, Wang Wentao, commenced his European tour with a major meeting involving leading Chinese electric vehicle (EV) manufacturers BYD and CATL. The assembly, held in Paris, marked the initiation of discussions ahead of the ongoing European Commission inquiry probing potential unfair advantages stemming from subsidies within China's EV industry. Wang's meeting with representatives from over ten enterprises, including Geely, indicated China's stance on EV development. Contrary to accusations of undue subsidies aiding Chinese companies, Wang said that innovation, strong supply chains, and fair market competition drive the sector's growth, not state aid. He assured firms of Beijing's active support in safeguarding their lawful interests. The discussions, as revealed by sources briefed on Wang's agenda, centre on the European Commission's investigation initiated late last year. Aimed at assessing if tariffs are necessary to protect European automakers from Chinese competition, the inquiry is an indication of China's lead in affordable EV models. The investigation is expected to conclude by November, with provisional duties possibly imposed earlier. Wang's itinerary also included a meeting with Renault's CEO and the acting chairman of the European Automobile Manufacturers' Association, Luca de Meo, demonstrating the broad scope of engagements during his visit. Additionally, he had planned to convene with executives from the cosmetics industry. As Wang navigates diplomatic and economic engagements in Europe, attention shifts to the broader context of global concerns regarding China's industrial capacity. US Treasury Secretary Janet Yellen, concurrently in China, voiced apprehensions about the adverse effects of China's industrial competition with international markets. (With inputs from Reuters)

China’s commerce minister leads delegation for EV firms amid EU probe

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China’s commerce minister leads delegation for EV firms amid EU probe