China hits back as EU electric-vehicle probe begins
China complained on Wednesday about the "very short" time provided by the European Union to engage in consultations for the bloc's inquiry into subsidies for electric vehicles. The remarks came as the European Commission formally launched the investigation into whether to set tariffs to shield EU producers from a "flood" of imports of cheaper Chinese electric vehicles (EV) it says benefit from state subsidies. China is "very much dissatisfied" with the anti-subsidy investigation as it lacks adequate evidence and does not conform to World Trade Organisation rules, the Commerce Ministry said in a statement. The Chinese side has 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 EU to safeguard the stability of the global supply chain and a strategic partnership between the two, while "prudently" applying trade remedies. In a statement posted on its official WeChat account late on Wednesday, the China Association of Automobile Manufacturers called the probe an "obvious act of protectionism" that would hinder the growth of the global EV industry. (Reuters)