China slams Europe's refusal to grant market economy status

Chinese Foreign Minister Wang Yi (3rd R) meets with French Foreign Minister Jean-Marc Ayrault (3rd L) in Beijing, capital of China, May 16, 2016. [Photo/Xinhua]

BEIJING -- China on Monday slammed a recent European Parliament resolution refusing to grant China market economy status, saying the move was not constructive.

"As the world's second largest economy and biggest trade partner for more than 130 countries, China has become a bedrock for protecting global free trade. We don't want people to continue to look at China through colored glasses," Chinese Foreign Minister Wang Yi said.

China has offered a stable and reliable market and abundant jobs for the European Union (EU). China hopes the EU can view China's development objectively, respect World Trade Organization rules and deliver on its WTO obligations, Wang said at a joint press conference with his French counterpart, Jean-Marc Ayrault, after their talks.

The WTO obligations Wang mentioned include the "surrogate country system," a term used by the EU in anti-dumping investigations, under which costs of production in a third country are used to calculate the value of products from non-market economies.

"WTO members should end the practice by December 11, 2016 under the agreement signed when China joined the World Trade Organization. It is an obligation for all the WTO members, not subject to any member's criteria at home," Wang said.

"Whether the EU grants market economy status to China or not, it needs to deliver on its WTO obligations rather than dodge them," Wang said.

The two foreign ministers said China and France will continue to expand cooperation and explore new opportunities in finance, sustainable development, agriculture, food as well as in third markets.