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Minister Wang Wentao's response on state subsidies in the Chinese automotive industry

On Tuesday, Chinese Commerce Minister Wang Wentao responded to growing concerns and suspicions that Beijing was offering harmful state subsidies to the country's automotive industry. At a press conference, the minister emphasized that the support provided by the Chinese government to the automotive sector complies with the rules of the World Trade Organization (WTO).

Transparency and WTO compliance

During his speech, Minister Wang Wentao highlighted the transparency of the subsidy programs offered by the Chinese government to the automotive industry. He highlighted that all policies and measures adopted respect WTO rules and are publicly available for consultation.

Furthermore, Wang Wentao emphasized that China is committed to maintaining a fair competitive environment in the automotive sector without distorting the market with harmful subsidies.

Investment in innovation and sustainability

The Minister of Commerce also addressed the role of state subsidies in supporting innovation and sustainability in the Chinese automotive industry. He highlighted that government investments aim to boost the development of clean technologies and electric vehicles, in line with the objectives of reducing carbon emissions.

Wang Wentao stressed that China is working to become a world leader in sustainable mobility, supported by financial incentives and policies to support the automotive industry.

Global competitiveness and international partnerships

Finally, Minister Wang Wentao emphasized the importance of international cooperation and healthy competition in the global automobile market. He highlighted that China is open to fair trade and building strategic partnerships with other countries to drive innovation and growth in the automotive sector.

Wang Wentao's response to suspicions of state subsidies in the Chinese automotive industry reflects the Chinese government's commitment to transparency, compliance with international standards and promoting innovation and sustainability. The Commerce Minister's statement seeks to dispel doubts and reinforce China's position as an emerging power in the global automotive market.