Cooperation is key to Chinese, EU auto industries, says Chinese commerce minister

BRUSSELS -- Cooperation is crucial for the development of the automotive industries in China and the European Union (EU), said Chinese Minister of Commerce Wang Wentao here on Wednesday.

Wang made the remarks while chairing the China-EU Electric Vehicle (EV) Industrial Chain Enterprises Roundtable, which was attended by leaders from nearly 30 European and Chinese EV, power battery, and parts sectors, as well as related industry associations.

Over the past 40 years, Wang said, automotive cooperation between China and the EU has yielded fruitful results and become deeply integrated.

EU companies have flourished in China, driving the development of China's automotive industry chain, and China has also provided an open market and a fair competitive environment for European companies.

As for the EU's anti-subsidy probe into Chinese EVs, Wang said that China will negotiate until the final moments.

Such a move by the EU, Wang noted, will not only hinder China-EU cooperation in the automotive industry and undermine Chinese companies' confidence in investing in Europe but will also severely affect global cooperation in addressing climate change and significantly damage the multilateral trade order based on WTO rules.

As the automotive industries of China and the EU are now at a critical crossroads, openness and cooperation are the best options, Wang said.

China has developed through reform and opening-up and will never close its door, Wang said. He noted the Chinese government firmly supports China-EU business cooperation, opposes "decoupling and breaking chains," and is committed to safeguarding the legitimate rights and interests of Chinese companies and EU companies operating in China.