MNI China Press Digest Nov 17: EU Probe, NDRC, SAFE

Highlights from Chinese press reports on Friday:

• China believes the EU's anti-subsidy probe into the Chinese EV industry has not followed applicable WTO and EU laws, according to He Yadong, spokesperson for the Ministry of Commerce. He said the EU had only sampled three Chinese firms and excluded EU firms with high production and sales volume, a move designed to distort the results of the investigation. China has urged officials to abide by WTO rules.
• China’s National Development and Reform Commission (NDRC) considers domestic demand and bulk consumption expansion its number one aim over the next period, according to NDRC spokesperson Li Chao. Speaking with reporters, Li said the state central planner will continue to implement macro policies such as issuing the new CNY1 trillion treasury bonds and promoting elderly care, childcare and other service facilities in urban communities. Li noted China’s PMI index declined in October but had been prosperous for several months prior.
• The State Administration of Foreign Exchange will promote the revision of laws and regulations on overseas listings and foreign institutional investors' investment in domestic securities markets, according to an article published on its website. The administration will strive to improve the quality of capital account opening and attract more foreign financial institutions and long-term capital to develop business in China.