Hey there! 👋 Big news from the Chinese mainland: China's Ministry of Commerce (MOFCOM) just kicked off a trade and investment barrier investigation into the European Union's (EU) foreign subsidy practices. 🇨🇳🔍🇪🇺
What's the deal? The MOFCOM announced on Wednesday that this investigation is a response to a request from the China Chamber of Commerce for Import and Export of Machinery and Electronic Products. They've dotted all the i's and crossed all the t's to get this rolling. ✅
So, what's being investigated? Under its foreign subsidies regulation, the EU has been digging deep into Chinese companies in sectors like locomotives, solar panels ☀️, wind power 🌬️, and security check equipment. They've held preliminary and in-depth investigations, and even some surprise raids! 😲
China's MOFCOM is saying, \"Hold up! We're going to examine how the EU is handling these investigations.\" The plan? They'll be conducting surveys, holding hearings, and even doing some on-the-ground activities to gather all the info they need from stakeholders. 📝🏢
The clock is ticking: the investigation is set to wrap up by January 10, 2025. But if things get tricky, it could be extended to April 10. Mark your calendars! 📅⏳
Why does this matter? It's all about international trade vibes and fair play. Both China and the EU are major players on the global stage, and this move could shake things up in the world of commerce and beyond. 🌐💼
Stay tuned for more updates on this developing story! 🔄
Reference(s):
China launches probe into EU's foreign subsidy investigations
cgtn.com
