On October 21, Minister of Commerce Wang Wentao held virtual talks with Maroš Šefčovič, Commissioner for Trade and Economic Security of the European Commission, at the latter’s request. The two sides had in-depth exchanges of views on key economic and trade issues between China and the European Union (EU), including export controls and the EU’s anti-subsidy investigation into Chinese electric vehicles.

Wang Wentao noted that the 25th China-EU Summit was successfully held in July this year, followed by Premier Li Qiang’s meeting with European Commission President Ursula von der Leyen in September. China stands ready to work with the EU to actively implement the economic and trade consensus reached by leaders of the two sides and promote the healthy and stable development of China-EU economic and trade relations. Regarding rare earth export controls, Wang emphasized that China’s recent measures are a normal step taken in accordance with laws and regulations to improve its export control system. These measures reflect China’s sense of responsibility as a major country committed to global peace and stability. China remains dedicated to safeguarding the security and stability of global industrial and supply chains and has consistently facilitated the approval process for EU enterprises.

On the issue concerning Nexperia, Wang stated that China firmly opposes overstretching the concept of national security. He expressed hope that the EU would play a constructive role by urging the Netherlands to uphold the sanctity of contract and market principles, and to propose a proper solution as soon as possible from the broader perspective of maintaining the stability of global industrial and supply chains.

Maroš Šefčovič stated that the EU is ready to work with China to implement the series of economic and trade concensus reached by EU and Chinese leaders and to properly manage trade frictions. The EU understands that China’s export control measures related to rare earths are underpinned by considerations of national security and common international security. In the implementation of these measures, the EU hopes China can expedite the processing of applications from EU companies. Regarding the Nexperia issue, the EU stands ready, when necessary, to actively facilitate communication between the Netherlands and China to swiftly find a solution and jointly uphold the stability of global industrial and supply chains.

The two sides agreed to convene, as soon as possible in Brussels, meeting of the upgraded China-EU export control dialogue mechanism, in line with the consensus reached at the 25th China-EU Summit.

They also exchanged views on the EU’s anti-subsidy investigation into Chinese electric vehicles and other related issues.