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Spokesperson of the Chinese Mission to the EU Speaks on a Question Concerning the Progress Report on the Implementation of the EU-US Joint Statement of 25 July 2018
2019/07/27

Q: On July 25, 2019, the European Commission presented the Progress Report on the Implementation of the EU-US Joint Statement of 25 July 2018, in which China was mentioned several times. The EU side called for closer EU-US cooperation on global standards setting in response to China's practice of seeking competitive advantage through its industrial policy. The report pointed out that EU and US authorities would continue to share their assessments of the industrial subsidies of key third countries, such as China, with a view to making use of such information in the context of potential trade defense action. The report also said that China's Foreign Investment Law is generally rather vague, and called on the US and Japan to join the EU in tightening foreign investment screening. What's your comment?

A: Unilateralism and protectionism are taking a heavy toll on the normal international order of economic cooperation and trade. Despite that, the relevant report made little mentioning of the harm of unilateralism and protectionism, and on the contrary, fabricated the so-called problem arising from third parties and slung mud on China. The EU side disregards the win-win nature of China-EU economic cooperation and trade, the huge benefits that EU companies have gained from the Chinese market and the intensive and major steps taken by China to expand opening-up. Rather, it casts unreasonable doubts on the adoption of the Foreign Investment Law. This is not constructive in any measurement. We are strongly concerned about that.

The reason for lack of progress in the EU-US trade talks lies in the two parties themselves. It is meaningless to try to shift focus to others and send misleading messages, which would only worsen the already bleak picture of global economy and trade.

The report underlined the need for the EU and the US to jointly set global standards and tighten foreign investment screening. China is deeply concerned about that. International rules should be made through consultation by all countries, and should not be defined by a selected few, still less by an exclusionary bloc of countries.

We urge the EU side to observe the principles of fairness, justice, openness, transparency and non-discrimination in conducting international trade and business cooperation. We urge the EU side to refrain from petty moves against any third party. And we urge the EU side to work more positively to create favorable conditions for China-EU business ties, to foster a stable and predictable environment for competition in world trade, and to contribute to global growth.

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