Beijing said yesterday it is kicking off a formal probe into EU practices after the bloc launched an anti-subsidy investigation of a range of Chinese transport and green energy firms.
The Chinese Ministry of Commerce said it would “conduct a trade and investment barrier investigation into the relevant practices adopted by the EU in its investigation of Chinese enterprises.”
The probe followed a complaint made by the national chamber of commerce for importing and exporting machinery and electronics, the ministry said in a statement.
Photo: Jason Lee, Reuters
The complaint mainly dealt with “products such as railway locomotives, photovoltaics, wind power and security inspection equipment,” it said.
The ministry added that the probe would examine the EU’s “preliminary reviews, in-depth investigations and surprise inspections of Chinese enterprises.”
It said the investigation would likely last until January 10 next year, but may be extended by a further three months under “special circumstances”.
The EU has previously launched similar probes into Beijing’s support for domestically produced trains, solar panels and electric cars.
They have come as the 27-nation bloc seeks to scale up renewable energy use to meet its target of net-zero greenhouse gas emissions by 2050.
But it also wants to step away from what it sees as excessive reliance on Chinese technology at a time when many Western governments increasingly see Beijing as a national security threat.
Brussels opened its first probe under the Foreign Subsidies Regulation in February, targeting a subsidiary of Chinese rail giant CRRC Corp (中國中車).
That investigation was closed after the subsidiary withdrew from a tender in Bulgaria to supply electric trains.
A second probe targets Chinese-owned solar panel manufacturers seeking to build and operate a photovoltaic park in Romania, partly financed by European funds.
Under a different set of rules, Brussels in September last year started a probe into subsidies for Chinese electric vehicles (EVs).
It concluded that Chinese state subsidies for its EV industry were unfairly undermining European rivals.
Last week, the EU slapped extra provisional duties of up to 38 percent on Chinese EV imports, prompting an outcry from manufacturers, Chinese business groups and the Chinese government.
Beijing rejects the probe’s findings and has said it will take “necessary measures” to safeguard the rights of its companies.
SEEKING CLARITY: Washington should not adopt measures that create uncertainties for ‘existing semiconductor investments,’ TSMC said referring to its US$165 billion in the US Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) told the US that any future tariffs on Taiwanese semiconductors could reduce demand for chips and derail its pledge to increase its investment in Arizona. “New import restrictions could jeopardize current US leadership in the competitive technology industry and create uncertainties for many committed semiconductor capital projects in the US, including TSMC Arizona’s significant investment plan in Phoenix,” the chipmaker wrote in a letter to the US Department of Commerce. TSMC issued the warning in response to a solicitation for comments by the department on a possible tariff on semiconductor imports by US President Donald Trump’s
The government has launched a three-pronged strategy to attract local and international talent, aiming to position Taiwan as a new global hub following Nvidia Corp’s announcement that it has chosen Taipei as the site of its Taiwan headquarters. Nvidia cofounder and CEO Jensen Huang (黃仁勳) on Monday last week announced during his keynote speech at the Computex trade show in Taipei that the Nvidia Constellation, the company’s planned Taiwan headquarters, would be located in the Beitou-Shilin Technology Park (北投士林科技園區) in Taipei. Huang’s decision to establish a base in Taiwan is “primarily due to Taiwan’s talent pool and its strength in the semiconductor
An earnings report from semiconductor giant and artificial intelligence (AI) bellwether Nvidia Corp takes center stage for Wall Street this week, as stocks hit a speed bump of worries over US federal deficits driving up Treasury yields. US equities pulled back last week after a torrid rally, as investors turned their attention to tax and spending legislation poised to swell the US government’s US$36 trillion in debt. Long-dated US Treasury yields rose amid the fiscal worries, with the 30-year yield topping 5 percent and hitting its highest level since late 2023. Stocks were dealt another blow on Friday when US President Donald
UNCERTAINTY: Investors remain worried that trade negotiations with Washington could go poorly, given Trump’s inconsistency on tariffs in his second term, experts said The consumer confidence index this month fell for a ninth consecutive month to its lowest level in 13 months, as global trade uncertainties and tariff risks cloud Taiwan’s economic outlook, a survey released yesterday by National Central University found. The biggest decline came from the timing for stock investments, which plunged 11.82 points to 26.82, underscoring bleak investor confidence, it said. “Although the TAIEX reclaimed the 21,000-point mark after the US and China agreed to bury the hatchet for 90 days, investors remain worried that the situation would turn sour later,” said Dachrahn Wu (吳大任), director of the university’s Research Center for