BIZCHINA / Center
Government 'regrets' US complaint over subsidies
By Jiang Wei (China Daily)
Updated: 2007-02-06 09:13
The Chinese government said it regrets a US decision to bring Beijing
before the World Trade Organization (WTO) over its industry subsidies.
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The US government filed a complaint last Friday with the global trade
body against China's industry subsidies.
"It's a pity the United States has sought the consultation process at the
World Trade Organization," said a Chinese commerce ministry spokesman.
The spokesman said the Chinese government was reviewing the US case,
adding that the two sides had "kept bilateral contact over the issue all
along". But he declined to disclose detailed information.
The US Trade Representative Susan Schwab said tax breaks and tariff
exemptions encourage Chinese companies to buy Chinese-made equipment
rather than imports, while financial incentives help firms to export
their goods. She said the time for negotiations had been "exhausted".
The US claims China's State subsidies for steel, paper, information
technology and other industries allow China to export its goods on the
cheap, preventing US firms from being able to compete fairly, both at
home and in other markets.
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