The Ministry of Commerce of China File photo: VCG

The industry chamber and association said on Monday that they welcome the positive outcome of China-EU consultations on the electric vehicles (EVs) case, saying that this has enabled "a soft landing" in the closely-watched EV dispute between China and the EU. 

The responses came after China and the EU on Monday agreed on price undertaking guidance for Chinese battery EVs makers, marking a significant step forward in resolving the two-year-long dispute. 

In a statement sent to the Global Times on Monday, the China Chamber of Commerce to the European Union (CCCEU) said that this important result responds directly to strong concerns from the business community, including the automotive sector. 

It not only supports the healthy and stable development of China-EU trade, investment, and bilateral relations, but also sends a clear and strong signal to global markets that both sides remain firmly committed to managing differences through dialogue and consultation, and to jointly upholding a rules-based multilateral trading system and an open global economy. 

As two major global economies, this joint decision carries significant bilateral relevance as well as a positive global demonstration effect, which CCCEU highly appreciates, it added.

CCCEU said it believes that this constructive outcome will significantly boost market confidence, provide a more stable and predictable environment for Chinese EV manufacturers and related supply-chain companies operating in Europe, and promote deeper cooperation between China and the EU in market development, technological innovation, and other areas. This result is expected to inject fresh momentum into China-EU collaboration on green transition and industrial development, benefiting both sides and the wider global economy.

The China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) said on Monday that it believes that a proper resolution of the EU anti-subsidy investigation on Chinese EVs aligns with the widespread expectations of upstream and downstream industries in both China and Europe. 

It contributes to the security and stability of relevant industrial and supply chains, upholds the broader China-EU economic and trade cooperation, and supports a rules-based international trade order. Through multiple rounds of consultations conducted in a spirit of mutual respect and dialogue, China and the EU have successfully facilitated a "soft landing" in this case, CCCME added.

The CCCME said it will encourage and support the enterprises involved in the case to make full use of the consultation outcomes, actively seek to protect their export interests to the European market through price undertaking.

The CCCEU reiterates that the competitiveness of China's EV industry is driven by continuous technological innovation, as well as cost and scale efficiencies achieved through rigorous market competition, rather than by subsidies. 

The chamber stands ready to continue playing an active bridging role, supporting Chinese and European companies in pursuing higher-level, pragmatic, and mutually beneficial cooperation based on this positive outcome, and contributing to the steady and long-term development of China-EU trade and investment relations.

According to the statement released by China's MOFCOM on Monday, China and the EU have conducted multiple rounds of consultations in the spirit of mutual respect, and both sides believe it is necessary to provide general guidance on price undertakings for Chinese exporters exporting battery electric vehicles for passengers to the EU, thereby enabling them to address relevant concerns in a way that is more practical, targeted, and consistent with WTO rules.

The EU issued the Guidance Document on Submission of Price Undertaking Offers, in which the EU acknowledges that it will assess each price undertaking offer against the same legal criteria in an objective and fair manner, following the principle of non-discrimination and in accordance with relevant WTO rules, said the MOFCOM.

Global Times