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China urges EU to scrap sanctions against Chinese firms, vowing to protect their legitimate interests

26/06/2024    14

China's Foreign Ministry said on Tuesday that it has made solemn representations to the EU over the latter's sanctions against Chinese firms over claims of links to Russia. 

The ministry said normal China-Russia cooperation doesn't target any third party, urging the EU to scrap the sanctions and vowed counter-measures to protect the interest of Chinese firms.

The remarks come as China-EU trade relations are fraught, as Brussels has taken a number of protectionist moves against Chinese companies and products, including its plan to slap hefty additional tariffs on Chinese electric vehicles (EVs). Chinese officials have firmly opposed the planned duties and have repeatedly vowed to take all necessary measures to defend China's legitimate rights and interests. 

In the latest example of the EU's hostility toward Chinese companies, the EU on Monday imposed sanctions on 19 Chinese businesses, which were added to the bloc's list of entities it accuses of "supporting Russia's military-industrial complex" in the Ukraine conflict, according to media reports. 

Inclusion on the EU's list means the companies would face sweeping restrictions on sales of what the bloc describes as "dual-use goods and technology," AFP reported. 

Commenting on the EU's move at a press briefing on Tuesday, Mao Ning, a spokesperson for China's Foreign Ministry, said that China has always opposed unilateral sanctions that have no basis in international law and are not authorized by the United Nations Security Council, and that China has made solemn representations to the European side.

"Normal exchanges and cooperation carried out by Chinese and Russian companies do not target third parties, and they should not be interfered with or influenced by third parties. We urge the European side to lift sanctions," the spokesperson said, "We will take necessary measures to resolutely protect the legitimate rights and interests of Chinese companies."

The EU's sanctions came just days after China and the EU agreed to launch consultations on the latter's so-called anti-subsidy investigation into and subsequently announced additional tariffs against Chinese EVs. Chinese officials and experts have called on the EU to scrap its tariffs, which would seriously undermine China-EU economic and trade ties and could even lead to a bruising trade row. 
 
While the outcome of the consultations remains unclear, there is a clear pattern of the EU taking increasingly hostile and protectionist moves against Chinese companies and products, according to information recently obtained by the Global Times.

Since October 2023, the EU has issued more than 40 restrictions on trade and investment against China. Among them, the EU launched 35 trade remedy investigations into Chinese products worth $28.4 billion. 

In comparison, China has been very prudent in using trade restriction measures. During the same period, China has launched only four trade remedy investigations into EU products.

Chinese officials and experts have repeatedly urged the EU against politicizing economic and trade issues and against taking protectionist actions against Chinese firms, while vowing all necessary measures to defend Chinese interests. 

Source: Global Times