China To Protect Steel Pipe Companies' Legitimate Rights

- Feb 26, 2018 -

The Ministry of Commerce (MOC) said on Friday that it will take the necessary steps to protect the legitimate rights of Chinese companies following anti-dumping measures taken by the European Union.

The remarks came after Friday's decision by the European Commission to levy anti-dumping duties on stainless steel pipe products manufactured by Chinese businesses for a five-year period, with duties ranging between 30.7 percent and 64.9 percent.

Wang Hejun, head of the MOC trade remedy and investigation bureau, said that the move by the European Commission violated World Trade Organization (WTO) rules, and China was highly concerned about trade protectionism by the European Union in the iron and steel sector.

The European Commission in its investigation disregarded facts and materials provided by Chinese companies, continued to use the "unfair and unreasonable" surrogate country approach, seriously affecting Chinese companies' interests, said Wang.

The Chinese government hopes the European Union will abide by WTO rules and cease the surrogate country approach, Wang said.

Anemic global economic recovery and waning market demand were the fundamental reasons for difficulties facing the iron and steel sector, and all countries should work together to overcome these challenges and take trade remedy measures in a restrained way, Wang added.

 

News be excerpted from xinhuanet.com

 

Edit by Ms Enya Wang of KRM/BSW

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