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Wang Yi: Please Comply with Your Commitments

2016/05/16

On May 16, 2016, Foreign Minister Wang Yi met the press together with visiting Foreign Minister Jean-Marc Ayrault of France in Beijing after holding talks, stating China's stance at inquiry on the resolution recently adopted by the European Parliament against granting China the status of market economy.

Wang Yi expressed that China considers this resolution adopted by Europe not constructive at all. First, whether to grant China market economy status or not has nothing to do with the fulfillment of Section 15 of the Protocol on the Accession of China to the WTO, and these two matters should not be confused or even linked with each other. Section 15 of the Accession Protocol clearly stipulated that WTO members should terminate the surrogate country methodology in anti-dumping investigations against China after December 11, 2016. This is an international treaty obligation that should be abided by all WTO members and does not subject to any member's domestic standards. Therefore, whether to grant China market economy status or not, the EU, as a WTO member, has the legal obligation to fulfill Section 15 of the Protocol, which cannot be avoided or shirked.

Second, it is about China's market economy status. Long before, China kept the door closed to the outside world and isolated itself from the international system. However, over the past hundred years, China has changed dramatically. Today, China is the second largest economy in the world, the largest goods trading nation and the largest trading partner of over 130 countries. China has also become a staunch force to safeguard the international system, including the global free trade system. We do not wish some people to continue viewing these obvious facts through tinted glasses, let alone to see some people attempt to reverse the history.

China is the second largest trading partner of the EU and the EU is China's largest trading partner. Over the years, China has provided a stable and reliable market for the EU, creating a large number of jobs. We are willing to continue deepening economic and trade cooperation with the EU based on the principle of mutual respect, equality and mutual benefit. At the same time, we also hope that the EU will look at China's development objectively, respect the rules of the WTO, and comply with its due treaty obligations. Since modern times, Europe has been a pioneer in promoting trade openness and freedom. I hope and believe that in the 21st century, as to whether to be open-minded or conservative and whether to honor the commitments or to breach the contract, the EU will certainly make a wise and right choice. China's requirements are clear, simple and reasonable, that is, please comply with your commitments.

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