Newsletter
Weather
Community
English home Forum Photo Gallery Features Newsletter Archive   About US Help Site Map
China
World
Opinion
Business
Sci-Edu
Culture/Life
Sports
Photos
 Services
- Newsletter
- Online Community
- China Biz Info
- News Archive
- Feedback
- Voices of Readers
- Weather Forecast
 RSS Feeds
- China 
- Business 
- World 
- Sci-Edu 
- Culture/Life 
- Sports 
- Photos 
- Most Popular 
- FM Briefings 
 Search
 About China
- China at a glance
- China in brief 2004
- Chinese history
- Constitution
- Laws & regulations
- CPC & state organs
- Ethnic minorities
- Selected Works of Deng Xiaoping

Home >> Business
UPDATED: 07:21, September 16, 2006
EU plans first WTO litigation against China
font size    

The European Commission said it will launch the first ever litigation against China at the World Trade Organization (WTO) by seeking a settlement panel for an auto parts dispute on Friday.

The EU's executive body said it expected the United States and Canada also to request the establishment of a panel on the same issue.

Chong Quan, spokesperson of the Ministry of Commerce, said China has not yet received a formal request from the three parties, which had called on Beijing in March to enter into talks on how to lower barriers to China's US$19 billion auto parts market.

On Friday, they said the time for consultations had run out.

"We have tried again and again to find an acceptable, negotiated solution to this issue; and without Chinese engagement, we have no alternative but to take this course of action," EU Trade Commissioner Peter Mandelson said in a statement.

The EU, the United States and Canada want China - which joined the WTO in 2001 - to change its rules on import tariffs, which they say hinder foreign auto makers and car parts suppliers in China, now one of the world's biggest auto markets.

China considers car parts as a whole vehicle if they account for 60 per cent or more of the value of the final vehicle, and thus charges a higher tariff on them, the Commission has said.

So far, China has been dragged into only one WTO dispute case, which was filed by the United States over semiconductors but did not enter the legislation stage.

In another development, foreign direct investment (FDI) in China dropped by 2.1 per cent from a year ago, to US$37.19 billion in the first eight months of this year, according to the latest statistics released by the Ministry of Commerce.

FDI in August alone fell 8.49 per cent from last year, to US$4.48 billion.

The ministry did not issue data on contracted foreign direct investment - investment pledged but not yet delivered.

Investment in the financial sectors, including banking, insurance and securities, is not included. Last year, China's financial sectors drew a total investment of over US$10 billion.

Source: China Daily


Comments on the story Comment on the story Recommend to friends Tell a friend Print friendly Version Print friendly format Save to disk Save this


   Recommendation
- Text Version
- RSS Feeds
- China Forum
- Newsletter
- People's Comment
- Most Popular
 Related News
Dic

Manufacturers, Exporters, Wholesalers - Global trade starts here.
Copyright by People's Daily Online, all rights reserved