China commerce ministry says disappointed at European probe into e-bike exporters

BEIJING (Reuters) - China’s commerce ministry said it is disappointed at the European Commission’s decision to launch a probe into Chinese exporters of electronic bicycles, adding that Europe misunderstands the Chinese market.

The European Commission launched an investigation on Dec. 21 into whether Chinese exporters of e-bikes benefited from excessive state subsidies, the latest in a string of European probes into Chinese exports ranging from solar panels to steel.

China’s e-bike market is fully market-based, said ministry spokesman Gao Feng at a regular briefing in Beijing on Thursday.

The European Bicycle Manufacturing Association wants the European Commission to impose duties on Chinese e-bikes.

“China hopes the European Union will respect World Trade Organization rules,” Gao said.

Europeans buy some 20 million bicycles per year, of which about 10 percent are now e-bikes, with the potential to rise to a quarter of sales within five years.

Chinese producers, including Battle-Fushida, Aima and Tianjin Golden Wheel, sold e-bikes worth some 307 million euros in the EU in the year to Sept. 30.

Reporting by Elias Glenn; Writing by Ryan Woo; Editing by Editing by Michael Perry

×
Stay Informed

When you subscribe to the blog, we will send you an e-mail when there are new updates on the site so you wouldn't miss them.

South Korea to impose new curbs on cryptocurrency ...
South Korea to impose additional regulatory curbs ...

Related Posts