China mulls hiking levies on fuel vehicles

China is studying measures to raise import tariffs on large-displacement fuel vehicles, and will make a cautious decision after considering all factors comprehensively, the Ministry of Commerce said on Thursday.

This move follows the European Commission's recent announcement of plans to impose import tariffs of up to 36.3 percent on electric vehicles produced in China. These potential measures, if implemented, would remain in effect for five years, although a final decision has yet to be made.

In response to the negotiation process between China and the EU regarding the imposition of tariffs on electric vehicles, China has shown the greatest sincerity and flexibility, and both sides have made important progress in some areas, He Yadong, a spokesman for the ministry, said during a news conference in Beijing.

"Still, the EU has not actively responded to the core concerns of industry players in China and Europe, and there are still some significant differences in the negotiations," He said.

He added that China has officially invited the European technical team to come to China as soon as possible to continue the next stage of negotiations. China has made all the preparations and is waiting for the European side's response.

The automotive industry chains in China and Europe are interdependent and have broad prospects for cooperation, said the China Chamber of Commerce for Import and Export of Machinery and Electronic Products.

"We hope that the European side will uphold an open and cooperative attitude and support comprehensive cooperation between the Chinese and European automotive industries," said Shi Yonghong, vice-president of the chamber.

In another development, the 136th China Import and Export Fair, popularly known as the Canton Fair, has witnessed significant achievements so far. The fair kicked off in Guangzhou, capital of South China's Guangdong province, on Tuesday, and will run until Nov 4.

New companies, products and technologies are making their debut. This year, more than 1,700 companies are first-time participants, and there are approximately 3,600 enterprises involved in businesses related to digital technology and intelligent manufacturing taking part, the ministry said.

Meanwhile, the Canton Fair app was launched this year, further optimizing multiple functions of the online platform, providing exhibitors with more convenient and efficient multi-scenario applications and mobile services, He said.