China introduced on Sunday that European medical system corporations shall be barred from promoting to the Chinese authorities as a countermeasure for the European Union’s restrictions on the sale of comparable merchandise from China.
European corporations shall be excluded if the price range for procurement is above 45 million yuan ($6.28 million), in response to a discover from the Finance Ministry on Sunday, with the restrictions in place the identical day. The transfer won’t apply to European corporations which have invested in China and that manufacture items within the nation.
China earlier on Friday imposed anti-dumping duties on European brandy, most notably cognac produced in France.
While the duties on brandy embrace a number of exceptions for main brandy producers, China and the EU have a number of commerce disputes throughout a spread of industries.
China protested after many European nations levied duties on EVs made in China. Since then, China has additionally launched investigations into European pork and dairy merchandise.
In June, the EU introduced that Chinese corporations had been to be excluded from any authorities purchases of greater than 5 million euros ($5.89 million). The measure seeks to incentivise China to stop its discrimination in opposition to EU corporations, the EU mentioned, accusing China of erecting “significant and recurring legal and administrative barriers to its procurement market.”
In response, China has mentioned it had “no choice but to implement countermeasures.”
“China has repeatedly expressed through bilateral dialogues that it is willing to properly handle differences with the EU through dialogue and consultation and bilateral government procurement arrangements,” mentioned an announcement from a spokesperson with the Ministry of Commerce.
“Unfortunately, the EU has ignored China’s goodwill and sincerity and still insisted on taking restrictive measures and building new protectionist barriers.”
Source: www.dailysabah.com