More price commitment deals expected between EU, Chinese enterprises

BEIJING, Feb. 12 (Xinhua) -- More Chinese companies are expected to reach price commitment deals with the European Union (EU), China's Ministry of Commerce said on Thursday.

Ministry spokesperson He Yadong made the remarks at a press conference regarding the European Commission's approval of a tariff exemption for a Chinese-made Volkswagen SUV, which will now be imported under a minimum price and quota model.

Previously, China and the EU, after multiple rounds of consultations, achieved a "soft landing" in the electric vehicle case within the framework of World Trade Organization rules, He said, adding that the outcome has been widely welcomed by the international community and industries on both sides.

Under the consensus reached through consultations, China and the EU support Chinese electric vehicle companies in making effective use of price commitments. To that end, the European side has issued a guidance document formulated during the bilateral talks and pledged to carry out assessments in a non-discriminatory, objective and fair manner, he said.

Noting that the Chinese and European automotive industries are deeply integrated and mutually beneficial, He expressed hope that the European side would earnestly implement the important consensus reached at the China-EU leaders' meeting and the outcomes of the case consultations.

China is ready to maintain dialogue and communication with the EU side to foster an open and stable market environment for the growth of the automotive industries in both China and the EU, He said.