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Home / NEWS / China to EU: Uphold promise on market economy status

China to EU: Uphold promise on market economy status

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. These facts which are seen by all, we don’t want some to still look at China with prejudices, or people who want to reverse the historical trend,” Chinese Foreign Minister Wang Yi said in Beijing.

Members of the European Parliament passed a resolution last week saying China should not be granted market economy status by Brussels. The resolution is not legally binding.

“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,” China’s Foreign Minister Wang said at a joint press conference with his French counterpart, Jean-Marc Ayrault on Monday.

Brussels is due to make a ruling this year. EU lawmakers say China’s cheap exports and excess production capacity are hurting EU jobs.

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