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China States Position and Serious Concerns Over EU Industrial Accelerator Act
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China's Ministry of Commerce has formally submitted comments to the European Commission on the EU Industrial Accelerator Act, expressing China's official position and serious concerns. China believes the Act imposes numerous restrictive requirements on foreign investment in four major emerging strategic industries batteries, electric vehicles, photovoltaics and critical raw materials and introduces exclusive "EU-origin" clauses in public procurement and public support policies, constituting serious investment barriers and institutional discrimination. China will closely monitor the legislative process and is willing to engage in dialogue and communication with the EU on the matter. If the EU disregards China's recommendations and insists on advancing the legislation, thereby harming the interests of Chinese enterprises, China will be compelled to take countermeasures to firmly safeguard the legitimate rights and interests of Chinese companies. China has urged the EU to remove discriminatory requirements against foreign investors in the Act, including local content requirements, mandatory transfer of intellectual property and technology requirements, and restrictive public procurement policies. China hopes the EU will attach great importance to and seriously consider adopting the comments submitted, strictly comply with World Trade Organization rules, and avoid discriminatory restrictive measures. In its comments, China stated that the Act may violate fundamental principles such as most-favored-nation treatment and national treatment, subjecting mainland investors to discrimination. This contravenes the basic principles of a market economy, including commercial voluntariness and fair competition, and runs counter to the important consensus reached by Chinese and EU leaders on properly handling frictions and differences. It would also seriously affect Chinese enterprises' expectations for investment in Europe. (ta/da) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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