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"During the sampling survey and the entire response process, we have been communicating with the European Commission and submitting written objections. At the same time, we have organized exchanges with Chinese companies and have had close communication and exchanges with companies on how to respond to the EU anti-subsidy investigation." On July 29, Shi Yonghong, vice president of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (referred to as "China Machinery and Electrical Chamber of Commerce"), said in an exclusive interview with the Beijing News Shell Finance reporter.

Ten days ago, Shi Yonghong led a delegation to attend the post-preliminary hearing of the EU's anti-subsidy investigation on Chinese electric vehicles in Brussels, Belgium. At the meeting, Shi Yonghong, on behalf of the electric vehicle industry, explained China's point of view to the European Commission - the Chinese electric vehicle industry requested the European Commission to correct the erroneous determination of the preliminary ruling and terminate the investigation.

On July 4 this year, the European Commission announced a preliminary ruling to impose a temporary anti-subsidy tax of 17.4% to 37.6% on Chinese electric vehicles. According to the EU anti-subsidy procedure, the European Commission is expected to make a final ruling in early November 2024.

"The unfair and unjust practices adopted by the European Commission in the EU's anti-subsidy investigation on electric vehicles have seriously hindered cooperation between Chinese and European companies." Shi Yonghong said that Chinese automakers are willing to carry out broader and deeper exchanges and cooperation with European automakers, including actively considering a global layout, but the premise of cooperation is fair competition.

In addition, Shi Yonghong mentioned that the EU Foreign Subsidies Regulation (FSR) officially came into effect on January 12, 2023 and was implemented on July 12, 2023. As of June 2024, the EU has launched three in-depth investigations, one proactive investigation, and one surprise inspection against Chinese companies. There are also dozens of investment and M&A projects involving Chinese companies that may be affected by FSR investigations. The EU has launched multiple FSR investigations against Chinese companies, with clear targets and de facto discrimination. It is suspected of violating the WTO's most-favored-nation treatment, national treatment and other relevant rules, seriously distorting the fair competition environment, and placing a serious burden on Chinese companies' operations and development in Europe. The China Chamber of Commerce of Machinery and Electrical hereby reminds companies that when laying out in overseas markets, they should fully consider the influence of multiple factors, operate in compliance, be targeted, and guard against possible risks.

Beijing News Shell Financial Reporter Zhang Bing Editor Wang Jinyu Proofreading Liu Jun