EU told China committed to tackle steel production
Print Edition
PREMIER Li Keqiang told European Union officials yesterday that China was committed to market reforms and remained determined to tackle a steel capacity glut that has sharpened tensions between the two sides.
EU leaders said they had agreed with China to form a working group to discuss the overproduction of steel, an issue linked to whether China will be granted market economy status.
European Commission President Jean-Claude Juncker told reporters at the conclusion of a two-day business summit in Beijing that “there is a clear link between steel overcapacity in China and the market economy status for China.”
The status would mean that the EU treats China’s economy as one controlled by the market and would open the doors to more Chinese imports.
Juncker said he had agreed with Li to establish “a kind of steel platform between China and the European Union to keep alive the debates and the discussions we have related to the steel overproduction.”
Li said China had always abided by its commitments on reform, and would work to improve market access for foreign companies in the hope that all firms could compete on a level playing field.
“We want trade between China and Europe to grow on a stable platform,” he said.
European Trade Commissioner Cecilia Malmstrom said steel overcapacity needlessly pitted Chinese and European workers against one another.
Li said China was taking strong and determined measures to tackle the problem of overcapacity, adding that China did not use subsidies to give its industries a competitive edge.
He said overcapacity and falling commodity prices were not “triggered by any one country.” He added: “This requires us to all help each other.”
“China’s will to solve the problem of steel overcapacity is resolute and our measures are effective,” Li said.
“We hope that the European side can look at this issue from an unbiased perspective,” he said, calling for the two sides to resolve trade disputes through bilateral discussions.
China is willing to speed up negotiations with the EU to secure bilateral investment deals, Li said, while also calling on the EU to create a stable environment for bilateral trade.
China maintained sound economic growth in the second quarter, the premier said, but he warned that the basis for a healthy economic performance was not yet strong.
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