MNI BRIEF: Beijing Willing To Safeguard Chinese Firms - MOFCOM
Beijing is willing to safeguard the interests of Chinese firms when dealing with ongoing trade tensions with the EU and U.S., Ding Weishun, policy research officer at the Ministry of Commerce said Wednesday.
Speaking to reporters, Ding said EU and U.S. moves to restrict green trade with China amounted to double standards, given both were calling for action to address climate change.
China's industry subsidy policy was WTO compliant,, and it was normal for countries to use funds to guide industry development, Ding added. The transition towards high tech and energy intensive manufacturing is fueling the countries fast growth for electricity, local analysts and economists recently told MNI. (See: MNI: China Electricity Demand Growth To Fall From Q1 High)