Ministry of Commerce spokesperson answers reporters' questions on the EU "Industrial Accelerator Act" related issues

The spokesperson for the Ministry of Commerce answers reporters’ questions regarding the EU’s “Industrial Accelerator Act.”
Question: We note that recently the Ministry of Commerce submitted comments on the EU’s “Industrial Accelerator Act” to the European Commission. Could you provide some details?
Answer: On April 24th, the Ministry of Commerce officially submitted comments on the EU’s “Industrial Accelerator Act” to the European Commission, expressing China’s official position and serious concerns.
China believes that the act imposes many restrictive requirements on foreign investment in four emerging strategic industries: batteries, electric vehicles, photovoltaics, and key raw materials, and includes exclusive “EU origin” clauses in public procurement and public support policies, which constitute serious investment barriers and institutional discrimination.
In its comments, China pointed out that the act mainly has the following issues:
First, it allegedly violates fundamental principles such as Most Favored Nation and National Treatment, and breaches multiple agreements including the WTO General Agreement on Tariffs and Trade (GATT) of 1994, the Agreement on Trade-Related Investment Measures (TRIMs), the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), and the Agreement on Subsidies and Countervailing Measures.
Second, Chinese investors will face discrimination, which contradicts the basic principles of voluntary business and fair competition in market economy, and also violates important consensus between Chinese and European leaders on managing friction and differences, seriously affecting Chinese companies’ investment expectations in Europe.
Third, it will hinder the EU’s green transition process, damage fair competition in the EU market, and bring new shocks to multilateral trade rules.
In its comments, China recommends that the EU remove discriminatory requirements against foreign investors, local content requirements, mandatory transfer of intellectual property and technology, and restrictions in public procurement policies.
China hopes the EU will attach great importance to and seriously consider adopting the comments submitted by China, strictly abide by WTO rules, and avoid discriminatory restrictive measures.
( Ministry of Commerce )