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MNI (London)
--Corrects originally transmitted story to Canadian companies
By Iris Ouyang
     BEIJING (MNI) - China has cancelled imports of rapeseed from three Canadian
companies as the products do not meet the necessary qualifications, the Ministry
of Commerce said Thursday
     There was no update offered on the status of the ongoing trade talks
between the U.S. and China.
     MNI highlights major points deserve particular attention from the press
briefing:
     --China has asked Canada to investigate the rapeseed cases and to prevent
such cases from occurring again, MOFCOM Spokesman Gao Feng said.
     --China's decision to again delay any tariff increase on U.S. vehicles is
aimed at creating a favourable atmosphere for the current round of trade talks
between the world's two largest economies, MOFCOM said. The move came as a
reaction to the U.S. similar measure to pause raising tariffs on Chinese goods
worth $200 billion to 25% from the current 10%, Gao indicated.
     --Gao said China and the U.S. discussed the text of a possible trade deal
last week in Beijing, with some new progress, without elaborating more, adding
"it paves way for the 9th round of trade talks."
     --Gao refused to offer updated information on the China-U.S. trade talks
this week, only noting the talks are ongoing, saying he will update the public
later.
     --MOFCOM will tighten regulations and improve business environment for
healthy and stable development of the car market, Gao said, after acknowledging
recent cuts in value-added taxes has led to car makers to decrease vehicle
prices for Chinese consumers. He also noted the VAT reduction has caused lower
prices of oil and car components. The MOFCOM will work with other governmental
departments to facilitate upgrading of car consumption, Gao said.
     --China will defend their basic rights as a developing countries, Gao
stressed, when asked whether China will give up on its special treatment granted
by the WTO. China's stance on WTO reform is very clear -- it will not avoid
responsibilities in line with its capability, Gao said.
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: MAQDS$,M$A$$$,M$Q$$$]
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com