© Reuters. Fu Cong, the director-general of the arms control department of Chinese foreign ministry, speaks at a news conference on COVID-19 origin-tracking related issues, in Beijing, China August 25, 2021. REUTERS/Tingshu Wang/File Photo   0175 +0.13% Add to/Remove from Watchlist Add to Watchlist Add Position

Position added successfully to:


 
+ Add another position Close 1211 +4.50% Add to/Remove from Watchlist Add to Watchlist Add Position

Position added successfully to:


 
+ Add another position Close

(Reuters) - China's ambassador to the European Union called the EU's probe into Chinese electric vehicle manufacturers over state subsidies "unfair", Fu Cong told Bloomberg News in an interview.


Fu told Bloomberg that China is cooperating with the EU's probe "because we do want to avoid a situation that the two sides will have to resort to trade measures against each other".


The ambassador told Bloomberg that EU subsidies many of its own companies and said that if China took the same approach as the bloc has done, "there are many things that could be subject to investigation".


Last year, the European Commission launched an investigation into whether to impose punitive tariffs to protect European Union producers against cheaper Chinese electric vehicle (EV) imports it says are benefiting from state subsidies.


Earlier this month Reuters reported that European Commission investigators are to inspect Chinese automakers in the coming weeks as part of a probe into whether to impose punitive tariffs to protect European electric vehicle (EV) makers. The inspectors will visit BYD (SZ:002594), Geely and SAIC, two sources told Reuters.



Tensions between China and the EU have been growing, partly due to Beijing's closer ties with Moscow after Russia's invasion of Ukraine. The EU is seeking to reduce its reliance on the world's second-largest economy, particularly for materials and products needed for its green transition.


(This story has been refiled to correct the China ambassador's surname to Fu in paragraph 2)


China says EU's 'unfair' EV subsidies probe risks damaging ties- Bloomberg News  

European stocks retreat; caution ahead of ECB meeting

UK100-FCHI-DE40-LCO-CL-Investing.com - European stock markets slipped lower Tuesday, amid caution ah

Futures lower, JOLTS ahead, GameStop surges - what's moving markets

Investing.com -- U.S. stock futures slip following a volatile session on Monday. Traders are looking

Trump wins New Hampshire primary election, Haley vows to fight on

2/2© Reuters. Former U.S. President and Republican presidential candidate Donald Trump speaks at a

Republicans look to New Hampshire after Trump's landslide Iowa win

© Reuters. Republican presidential candidate and former U.S. President Donald Trump is flanked by hi

New Hampshire 2024 primary: When is it? What's at stake?

3/3© Reuters. Former U.S. President and Republican presidential candidate Donald Trump speaks as h

Key quotes from US President Biden's Jan. 6 democracy speech

© Reuters. U.S. President Joe Biden delivers a speech to mark the third anniversary of the January 6

Israel probes claims share traders knew of Hamas attack in advance

Related TopicsIsrael-Gaza warImage source, Getty ImagesBy Andy VerityBBC Economics correspondentIsra

Will curbs to migration hit the UK economy?

Image source, PA MediaBy Faisal IslamEconomics editor@faisalislamThe UK government has unveiled meas

Fashion firm Quiz to launch review as sales slide

Image source, Quiz Image caption, Reality TV star Olivia Bowen has a Christmas collection with the r

Thames Water says turnaround will 'take time'

Image source, PA MediaBy Nick EdserBusiness reporterThames Water has said that reviving the business

Labour won't turn on spending taps, says Starmer

Image source, ResolutionFoundationImage caption, Sir Keir said the UK's economy was "in a

Live Nation issued subpoena regarding ticketing, fees by US Senate panel

© Reuters. FILE PHOTO: The logo and trading information for Live Nation Entertainment is displayed o