Latest News:  

English>>Business

China vexed by soaring trade frictions

(Xinhua)

08:40, April 09, 2013

BEIJING, April 8 (Xinhua) -- Rising alongside the foreign trade volume, trade remedy probes are vexing China, saddling the world's second-largest economy with the work of easing a "growing pain."

The country's Ministry of Commerce (MOC) said Monday that China was targeted by 77 trade remedy probes initiated by 21 countries in 2012, up 11.6 percent year on year.

China had launched 210 trade remedy probes against imported products aligning with global rules by 2012.

The probes involved 27.7 billion U.S. dollars, a surge of 369 percent from 2012, the ministry said.

In the past decade, China has faced 842 cases filed around the world and involving a total of 73.6 billion U.S. dollars. It was also the target of 130 intellectual property probes by the United States, according to MOC's data.

Over half of the world's countervailing measures are directed at China, said Yi Xiaozhun, China's permanent representative to the World Trade Organization (WTO).

Early last month, Yi warned that China should be mindful of rising trade frictions with European countries and the U.S., as they are adopting increasingly harsh trade relief measures for Chinese exports.

Among the most notable cases was the European Union's 2012 anti-dumping investigation into imports of solar panels and key components from China, which involved over 20 billion U.S. dollars.

Song Ping, an investigator with the MOC, said at a press conference held by the MOC on Monday that the soaring amount of cases have grown out of China's speedy economic expansion and rocketing foreign trade.

He attributed the issue to growing trade protectionism following the global financial crisis and the imbalanced market goals of Chinese enterprises.

Meanwhile, more developing countries have adopted harsher trade relief measures for Chinese products. Last year, these countries launched 54 trade remedy probes against China, or 70.1 percent of the total.

New challenges and mutual benefit go together, considering the rapid growth of China's foreign trade with emerging markets, MOC spokesman Yao Jian said.

According to the ministry, China was targeted by 22 such cases worth 963 million U.S. dollars from 12 countries in the first quarter of 2013, up 22.2 percent year on year, the MOC said.

Song forecast that trade frictions will become commonplace and complex in 2013, and will remain a tough, long-term issue for China to handle in the future.

We Recommend:

Photo Story: Bittersweet life of auto model

Top 10 richest people in Beijing 2013

34th Bangkok Int'l Motor Show to kick off

Beijing’s second-oldest McDonald outlet closed

Top 10 world's youngest billionaires 2013

China's solar giant declares bankruptcy

Email|Print|Comments(Editor:ChenLidan、Ye Xin)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Ships of South Sea Fleet return to home port

  2. Soldiers trained to take over security duties from NATO

  3. Pakistan to hold parliamentary elections

  4. The job of building heavenly homeland

  5. 3 rescued from flooded coal mine

  6. Prevention efforts to fight against H7N9 virus

  7. Superstars from CCTV Young Singer Competition

  8. Migratory birds back to Xinjiang

  9. Meeting for private sector at BAF

  10. BFA 2013 kicks off

Most Popular

Opinions

  1. Today's youths will prove their mettle
  2. Chinese spend less on hotels, still flash the cash
  3. Soros upbeat on China's economic transformation
  4. Chinese innovations to benefit the world: Bill Gates
  5. Reflecting on rules that allow bad apples
  6. Cold food honors loyal man with a warm heart
  7. Safety concerns over state-owned coal mines
  8. New age of gender blending in China
  9. 'Tomb Sweeping Day' distorts meaning of Qingming
  10. Xi's visit starts new era of China-Africa relations

What’s happening in China

Life aboard a fishing boat under bridge in city of Chongqing

  1. Boy, 4, recovers from H7N9
  2. Red water leads to resignation, public apology
  3. Father accused of killing 4-yr-old daughter
  4. Dead fish in Shanghai prompt safety fears
  5. Vendors keep selling pet birds despite ban