Chinese vice-premier cautions EU on protectionism

Updated 2016-11-25 09:55:34 chinadaily.com.cn

Visiting Chinese Vice-Premier Liu Yandong urged the EU to promote free trade and abandon protectionism at Hamburg summit. (Photo by Fu Jing/chinadaily.com.cn)

Visiting Chinese Vice-Premier Liu Yandong urged the EU to promote free trade and abandon protectionism at Hamburg summit. (Photo by Fu Jing/chinadaily.com.cn)

Visiting Chinese Vice-Premier Liu Yandong urged the European Union on Thursday to promote free trade and abandon protectionism.

At the close of two-day China Meets Europe summit in Hamburg, she also called on the EU to fulfill its obligations under Article 15 of the Protocol on China’s Accession to the World Trade Organization (WTO).

“I hope the European Union will fulfill its obligations on time, fully and thoroughly,” said Liu, who has begun a three-day tour in Germany to boost bilateral cooperation.

Addressing officials and business leaders at the summit, she continued: “I also hope that the EU will abide by open and unbiased principles in changing its trade defense regulations.”

Liu’s remarks came after the European Commission came up with a new proposal for calculating anti-dumping measures.

Vice-Premier Ma Kai, during his visit in October and November, won support from the UK, France and Belgium, whose officials promised they would press the EU to fulfill its obligations under China’s World Trade Organization accession pact signed 15 years ago.

Recently, the European Commission submitted its 10-page amendment proposal to the European Council and European Parliament. That was just one month before provisions on calculating dumping in the China’s Accession Protocols of China expire on 11th December.

But China was not happy with the commission proposal. “We have taken note of this with concern,” said Lu Kang, Chinese foreign affairs spokesman.

While encouraging more Chinese businesses to invest in European Union countries to boost jobs, Liu said she has taken note of some “negative opinions” about China’s investment in some countries within the EU.

“But I have to emphasize that expanding free trade and increasing two-way investment are in the interests of China and the EU,” said Liu. “Against the backdrop of tight global economic inter-dependency, protectionism will bring no winner but an all-losing result.”

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