China denounces U.S. opposition to market economy status

Updated 2017-12-03 09:02:56 Xinhua

China's Ministry of Commerce (MOC) Saturday expressed strong dissatisfaction with the U.S. opposition to granting it market economy status in the World Trade Organization (WTO).

The Office of the U.S. Trade Representative told Xinhua Friday that the United States had submitted a statement of opposition to the WTO as a third-party brief in support of the European Union (EU) in a case brought by China arguing the "surrogate country approach" should be dropped after the expiration date.

"China is strongly dissatisfied and resolutely opposes the rejection, as the U.S. government tried to mix the concepts of the surrogate country approach and market economy status to mislead the public," the MOC said in a statement.

When China joined the WTO, members use costs of production in a third country to calculate the value of products from countries on their "non-market economy" list, which includes China.

In accordance with Article 15 of the accession protocol, the surrogate country approach expires on Dec. 11, 2016.

The case has nothing to do with whether China has been granted market economy status or not as there are no standards in WTO rules for the status, the MOC said, urging all members to drop the practice.

When the approach expired last year, some member nations, including Japan and the United States, indicated they would not honor their commitments with no plans to change their trade policies. The MOC has warned that their refusal would put trade ties with China at risk.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58December 17 2017 08:11:22

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16December 17 2017 08:11:22

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18December 17 2017 08:11:22

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords