China Backs 20-Economy WTO Talks on Subsidy Curbs as OECD Flags Highest Aid Since 2008
Updated
Updated · Reuters · Jun 4
China Backs 20-Economy WTO Talks on Subsidy Curbs as OECD Flags Highest Aid Since 2008
3 articles · Updated · Reuters · Jun 4
Summary
Li Chenggang told a WTO meeting in Paris attended by more than 20 economies that China supports talks on fair competition, including curbs on industrial subsidies that distort markets and greater policy transparency.
The remarks came as an OECD report said government support for industry has climbed to its highest level since the global financial crisis, driven largely by China.
China's commerce ministry rejected that report earlier Thursday, saying its industrial subsidy policies strictly comply with WTO rules.
Li also urged more flexible, inclusive WTO decision-making, backed a quick multilateral deal to extend the moratorium on customs duties for electronic transmissions, and met EU, UK and Swiss trade officials on the sidelines.
The outreach lands days after the European Commission called its trade and investment relationship with China unsustainable as it weighs steps to shield European industries from surging Chinese imports.