On June 23, the European Commission issued an announcement that it initiated anti-dumping investigations against low-carbon ferrochromium from China, Russia and Turkey. Wang Hejun, director of the Trade Relief and Investigation Bureau of the Ministry of Commerce, made a statement in this regard.
Wang Hejun stated that the Chinese side noticed that the case was the first anti-dumping case involving China initiated by the European Union after the expiration of Article 15 of the Protocol on China's Accession to the World Trade Organization (hereinafter referred to as the "Protocol") on December 11 last year. China urges the European Union to strictly implement its WTO rules and obligations. In any case, it is no longer possible to use the "surrogate country" investigation method for Chinese enterprises to give fair treatment to Chinese enterprises.
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Since the beginning of this year, the EU has ignored the rules and obligations of the WTO and has continuously adopted anti-dumping measures against Chinese steel products such as stainless steel pipe fittings, medium-thick steel plates, hot-rolled coils and seamless steel pipes. Wang Hejun stated that in these cases, the European Commission continued to use an unfair and unreasonable "substitute country" approach, artificially cutting off the high anti-dumping margins and seriously undermining the interests of Chinese companies.
Ren Yongzu, a researcher at the Chungyang Financial Research Institute of Renmin University of China, said in an interview with reporters that China’s access to market economy status is based on legal principles. A few countries misinterpreted the regulations in the "Protocol" and imposed unfair trade rules on China to meet their domestic political and economic needs. They are contemptuous of international trade rules and need to be resolutely resisted.
What is anti-dumping investigation "substitute country"?
The so-called "Protocol" is a clause that concerns China's "non-market economy status." This clause was signed in 2001 in order to enter the overall situation of the WTO as soon as possible, that is, the “confirmation of the price when subsidizing and dumping†clause.
This article stipulates that the use of "substitute country" data by WTO members in anti-dumping investigations on Chinese exports should be terminated on December 11, 2016. However, for some time now, the United States, the European Union and other economies have always tied the concept of “market economy status†with this and refused to honor this commitment.
In simple terms, the content of this clause involves the question of how to choose a reference standard when anti-dumping investigations are conducted by the European Union, the United States, and other economies. If China’s “market economy status†is recognized, it must be based on China’s anti-dumping and countervailing investigations. The actual cost is used as a basis; conversely, if China is not recognized as a “market economy status,†other countries can determine whether anti-dumping is in place based on the cost of designating a “substitute country†for similar products.
For example, in 1998, the European Union’s anti-dumping of Chinese color TV sets was based on Singapore. In 2004, the United States’ anti-dumping action on Chinese color TV sets was based on India.
Last year, the "double reverse" investigation in China was worth 100 billion yuan
According to the data from the Ministry of Commerce, in 2016, China suffered a total of 119 trade remedy investigations initiated by 27 countries (regions). On average, it encountered one case every three days, including 91 anti-dumping cases, 19 countervailing subsidies, and 9 safeguard measures. The amount involved was 14.34 billion U.S. dollars (approximately 97.9 billion U.S. dollars), and the number of cases and the amount involved increased by 36.8% and 76% respectively.
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On January 5, when the Ministry of Commerce held its first press conference in 2017, Ministry of Commerce spokesman Sun Jiwen stated that overall, the trade frictions China experienced in 2016 both reached record highs in the number of cases and the amount involved. Nearly half of the trade frictions are concentrated in manufacturing-related fields.
Liu Chao, deputy director of the Legal Affairs Department of the China Council for the Promotion of International Trade (CCPIT), said in an interview that China has been the country with the highest number of anti-dumping investigations for 21 consecutive years. It has been the country with the most anti-subsidy investigations for 10 consecutive years, and has recently surveyed one-third of the world's total. For China.
Why China will become the "hard-hit area" for anti-dumping and anti-subsidy investigations. What is the purpose of the United States, the European Union, and other countries to launch a "double counter" investigation against China?
Chen Cheng, an associate researcher at the Chung Yang Financial Research Institute of Renmin University of China, told reporters that from a macro perspective, China is the world’s largest trader of goods and has frequent import and export trades. It is a normal phenomenon that certain frictions occur. On the other hand, China's trade has long relied on low-price strategies to win the international market. Under the background of relatively large downward pressure on the international economy, countries have not yet formed a new driving force for economic growth, and policies have become more self-servicing and trade protectionism.
Wang Hejun also admitted at the National Conference on Business Work in 2016 that frequent trade frictions are directly related to China’s trade being “large but not strongâ€, relying on large volumes, and low price strategies to win. "But some countries use the 'alternative country' approach that refers to third-country prices, rather than comparing China's export prices with Chinese domestic prices. China strongly opposes this approach."
EU intends to use new standards of "market distortion"
It is said that Chinese language is profound and profound. In the same sentence, different moods and different pauses may have different meanings. However, this time, the EU even played a word game with China.
On November 9, 2016, the European Commission formally submitted to the European Parliament and the Council of the European Union a bill to amend the anti-dumping legal system, and cancelled the list of “non-market economy countries†in order to fulfill its obligations under Article 15 of the Protocol on China's Accession to the WTO. Obligations.
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At the same time, however, the EU has proposed a new concept that replaces the concepts and standards of “non-market economy†with the concept and standard of “market distortionâ€. "Distortion" may include government intervention, the proportion of state-owned enterprises, the arrangement of cheap loans, or the implementation of differential treatment to support domestic enterprises.
In May 2017, the 28 member states of the European Union reached agreement on the revision of the anti-dumping law, agreeing that in the future anti-dumping investigation, WTO members will no longer use the “substitute country†approach, instead adopting the criteria of “market distortionâ€. In other words, if the importing country thinks that “the market is seriously distortedâ€, investigators can use the price of international indicators.
Lu Xi, a spokesperson for the Ministry of Foreign Affairs of China, once pointed out that this practice of the European Union has not fulfilled Article 15 obligations completely and completely, it is also inconsistent with the WTO rules, and it has continued the original practice in disguise.
Recently, some media reported that the above anti-dumping law has made new progress. According to the European Parliament website, on June 20 local time, the International Trade Committee (INTA) under the European Parliament passed the new anti-dumping bill with 33 votes passed, 3 against and 2 abstentions.
On the very day when INTA passed the new anti-dumping bill, the European Iron and Steel Industry Union website published an article supporting the European Parliament and member states in adopting a "market distortion" approach. Exel Aigte, director-general of the European Iron and Steel Industry Alliance, said that the INTA draft better defines what constitutes “significant distortionsâ€, which is crucial to ensure the certainty of the law and provide a clear process, avoiding dumping. Damage to the EU industry creates additional burdens.
EU Dispute on External Investment Review
According to the report of the German Financial Network on the 23rd, the new French President Mark Long asked the European Union to conduct more rigorous examination of Chinese investment and mergers and acquisitions on the 22nd EU summit. However, it was opposed by several member countries and was originally planned to be held at the EU summit. The discussion of related proposals was also delayed.
Reuters said on June 23 that Chinese companies’ investment in Europe, especially in Germany, has recently attracted attention. Macron’s proposal has received support from Germany, Italy, Austria and other countries, but Greece, Portugal, and the Czech Republic oppose this plan. Continue to open up the market.
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The reporter found on EU official website news site Euractiv that EU leaders had recently discussed the review of foreign investment, but the proposal to establish a more profound organization for the acquisition has been rejected.
Chinese Foreign Ministry spokesman Lou Shuang also stated on the 23rd that in the current situation of the rise of anti-globalization thoughts, many countries in the world, including EU countries, have repeatedly stressed their opposition to all forms of protectionism. "China has always encouraged Chinese companies to invest in the European Union to start business and ask them to abide by local laws and regulations. At the same time, we also hope that the European side can provide a fair and just environment for Chinese companies to invest in the region."
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