China will launch an inquiry into whether to impose countervailing duties on potato starch imports from the European Union, the commerce ministry said on Monday, its first such proposed action against the 27-nation bloc.
The ministry anounced the investigation on its website (www.mofcom.gov.cn), saying Beijing would examine the size of subisides for potato starch from the EU, its biggest trade partner, and whether they harm the Chinese industry.
The number of anti-dumping and countervailing cases initiated by China against other countries and vice-versa is rising, a sign of increasing trade friction following the global financial crisis.
Many of China's trade partners would like to see faster appreciation of the yuan, saying that an undervalued currency gives Chinese exporters an unfair competitive edge.
The United States has been particularly vocal in its criticism of China's currency policy, but the EU has also become more outspoken recently.
The EU thinks China has made only limited progress in allowing the yuan to appreciate and swifter action would help safeguard a fragile economic recovery, according to a draft G20 document obtained by Reuters.
According to the ratings agency Moody’s, Iran is fiscally and structurally well placed to come back into the global economic scene
PM Davutoglu meets the heads of the world's largest companies as he promotes Turkish economic interests at World Economic Forum
Fund cuts global growth forecasts for both 2016 and 2017 by 0.2 percentage points
'Runaway inequality has created a world where 62 people own as much wealth as the poorest half of the world’s population'
At a meeting in Vienna on Friday, the Organization of the Petroleum Exporting Countries decided against cutting output to raise prices
OPEC has agreed to raise its output ceiling to 31.5 million barrels per day
OPEC's poorer nations, led by Venezuela, want a cut to help boost prices
Move gives international recognition to renminbi, fund's Christine Lagarde says
Summit is expected to provide member states with opportunity to consult, exchange views on the most important issues concerning them in the framework of the Gas Exporting Countries Forum
Slowdown in Chinese economy, rising oil stocks in US, and oversupply from OPEC are all factors making price of oil lower
'World is more connected than ever before. More and more developing countries are seeking to join global trade networks,' WTO director-general says
European Central Bank is ready to use ‘all instruments available’ to stimulate the eurozone economy, Draghi says
Kazakhstan has overtaken Australia as the lead supplier of uranium for US reactors.
Depreciation of emerging market currencies, combined with low commodities prices, have made investors around the globe nervous