China questions EU ruling on Chinese hot-rolled coil
Source: www.chinamining.org Citation: Xinhua Date: May 09, 2017
China`s Ministry of Commerce (MOC) on Friday questioned the European Commission`s (EC) anti-subsidy ruling on Chinese hot-rolled coil, criticizing improper practices in the investigation.
The commission has ruled that Chinese producers of the steel product received subsidies ranging from 4.9 percent to 42.6 percent.
Ignoring the fact that Chinese commercial banks operated independently in accordance with market principles, the EC asserted their loans to the producers were preferential lending, said Wang Hejun, head of the trade remedy and investigation bureau at the MOC.
The commission also wrongly took banking loans obtained by state firms as bestowal, which inflated the subsidy range, Wang said.
China urged the EC to strictly abide by WTO rules to correct the improper ruling as soon as possible, he stressed, pledging to take necessary measures to defend the rights of Chinese companies.
Hot-rolled coil, a major variety of steel product, is widely used in construction and machinery building.
About CHINA MINING
Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.
CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin in September 23-25, 2017. We invite you to join the event and to celebrate the 19th anniversary of CHINA MINING with us. For more information about CHINA MINING 2017, please visit: m.balanzskin.com.
