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The
remarks came as the European Commission formally launched the
investigation on whether to set tariffs to shield its producers
from a "flood" of imports of cheaper Chinese electric vehicles (EV)
it says benefit from state subsidies.
However, China was "very much dissatisfied" with the
anti-subsidy investigation as it lacked adequate evidence and
did not conform with World Trade Organization rules, the
country's commerce ministry said in a statement.
The Chinese side had not been given adequate consultation
materials, it said, and would pay close attention to the
Commission's investigative procedures so as to safeguard the
rights and interests of its firms.
China also urged the European Union to safeguard the stability
of the global supply chain and a strategic partnership between
the two, while "prudently" applying trade remedies.
The formal launch of the EU investigation came with an
announcement in the bloc's official journal, which said China
had been invited for consultations, although it did not give a
timeframe.
Information gathered by the Commission tended to show that
producers in China benefited from subsidies to the detriment of
EU industry, it added.
It enumerated these as being 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.
It said subsidies had allowed a rapid rise of cheap imports into
the European Union, with expected overcapacity in China likely
to lead to further increases in the near future.
The European Commission has said China's share of EVs sold in
Europe has risen to 8% and could reach 15% in 2025.
The journal advised all parties wanting a hearing to request one
within 15 days, and set a deadline of 37 days to receive
comments.
(Reporting by Chen Aizhu and Philip Blenkinsop; Editing by
Christian Schmollinger and Clarence Fernandez)
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