MEP Bernd Lange doubts the EU's October deadline for "tangible results" with China is realistic for a binding trade agreement. The EU faces a large trade deficit and seeks to rebalance trade, while China threatens retaliation against protectionist measures.
China's Foreign Ministry spokesperson Mao Ning refuted an OECD report claiming Chinese subsidies account for 52% of global industrial subsidies and distort markets. She stated Chinese companies' competitiveness stems from market competition, innovation, and scale, not subsidies, and that China adheres to WTO rules.
An OECD report reveals China provided approximately $108 billion in public funding to its companies in 15 key industrial sectors in 2024. This support, significantly higher than in OECD member countries and other emerging economies, is attributed to China's dominant global market share in sectors like solar panels, shipbuilding, and steel, leading to overcapacity and price depression.
