Ministry of Commerce: The final ruling on the anti-dumping investigation against EU brandy will be made in the near future

The Zhitong Finance App learned that on July 3, the Ministry of Commerce held a regular press conference. A reporter asked whether China plans to extend the anti-dumping investigation on EU brandy imports again before the summit between the leaders of China and Europe to be held later this month, or will the maximum 39% temporary tariff that has been implemented so far be converted to permanent tariffs? In response, Ministry of Commerce spokesman He Yongqian said that the issue involved China's anti-dumping investigation against imports of brandy originating in the European Union, and the Ministry of Commerce had responded to this issue many times before. According to Chinese law and WTO rules, the Chinese investigation agency will issue a final ruling in the near future. Please follow the Ministry of Commerce's website for relevant developments.

The transcript is as follows:

He Yongqian:

Dear journalists,

Good afternoon everyone. Welcome to the Ministry of Commerce's regular press conference. I have no information I need to share with you today.

Please ask questions below.

Southern Metropolis Daily Reporter:

We have noticed that one of the important highlights of this year's consumer goods trade-in work is organizing and carrying out electric bicycle trade-in, which has been well received by people in urban and rural areas. Can you introduce the latest developments in this work?

He Yongqian:

According to arrangements relating to the trade-in of consumer goods and the remediation of the entire chain of potential electric bicycle safety hazards across the country, the Ministry of Commerce has taken the lead in carrying out electric bicycle trade-in work, driving strong production and sales in the industry, and playing a positive role in expanding consumption, benefiting people's livelihood, helping the industry, and promoting safety.

First, the sales scale continues to expand. From January to June, sales of electric bicycles through trade-in across the country increased by an average of 113.5% month-on-month. As of June 30, 8.465 million electric bicycles were sold and replaced nationwide, 6.1 times that of 2024. Three provinces, including Jiangsu, Hebei, and Zhejiang, all sold more than 1 million units, and 16 other provinces, including Anhui and Shandong, sold more than 100,000 units.

Second, the effect of benefiting the people has become more prominent. As of June 30, all 31 provinces, regions, cities and the Xinjiang Production and Construction Corps have carried out actual replacements. The total amount of electric bicycles sold in trade-ins reached 24.77 billion yuan, 6.6 times that of 2024. 8.402 million consumers across the country enjoy electric bicycle trade-in policy subsidies.

Third, the promotion effect of the industry is obvious. From the production side, from January to June of this year, the production of electric bicycles of the top 10 brands increased 27.6% year over year. From the sales side, a total of 82,000 sales stores participated in the electric bicycle trade-in. Most of them were small and micro enterprises and individual merchants, which drove an average increase of 302,000 yuan in single-store sales and promoted the business development of a wide range of micro merchants.

Fourth, give full play to the safety orientation. Since the electric bicycle trade-in process began in September 2024, nearly 9.85 million used cars have been sold and scrapped through trade-in methods across the country. The new cars purchased have product certificates and CCC certificates that meet current national standards, making it safer and more secure for people to use. Thank you.

Hong Kong Economic Report Reporter:

The previous speaker also introduced the annual implementation plan for building the “Invest in China” brand (2025). Nineteen key events have already been held at home and abroad in the first half of the year. May I ask, what are the plans of the Ministry of Commerce to build an “Invest in China” brand in the second half of the year? Under the new situation, how can we give full play to the advantages of carriers such as national development zones, free trade zones, and free trade ports to support them to attract investment more vigorously?

He Yongqian:

Since this year, the Ministry of Commerce has continued to launch a series of investment promotion activities focusing on building the “Invest in China” brand. We have successively hosted the Hainan Free Trade Port Global Industrial Investment Conference, the Tianjin Summer Davos Multinational Business Leaders Exchange Meeting, and went to Japan, Sweden, Norway and other places to promote China's investment promotion policies. It vividly shows China's good business environment, effectively promotes foreign-funded enterprises to understand China's investment environment and foreign investment policies, and attracts more foreign investors to visit and invest in China.

According to the “Implementation Plan for Building an “Invest in China” Brand (2025), in the second half of the year, we will focus on hosting the “Invest in China” iconic exhibition, the 25th China International Investment and Trade Fair to be held in Xiamen, Fujian in September; at the same time, we will also support all regions to host accurate investment promotion activities under “Invest in China” to showcase the characteristics of local industries in all aspects; continue to carry out investment promotion in key countries and regions to introduce more high-quality foreign investment projects.

Regarding leveraging the advantages of the various open platforms you just mentioned, the Ministry of Commerce will also work with various local departments to implement the requirements of policy documents such as “Opinions of the CPC Central Committee and the State Council on Implementing the Pilot Free Trade Zone Promotion Strategy” and “Deepening Reform and Innovation in National Economic and Technological Development Zones and Leading High-Quality Development Work Plan with High Level Opening-up”, promote the implementation of the core policies of the Hainan Free Trade Port, and continue to play the experimental role of the “1+N+X” national economic development zone policy support system The level of export-oriented economic development in national economic development zones creates more development space for enterprises and creates a new highland of reform and opening-up for the agglomeration of foreign capital. Thank you.

Macau Monthly Reporter:

The 9th China-Russia Expo will be held in Yekaterinburg, Russia from July 7 to 10. Could you ask the speaker to explain the preparations for China's participation in the exhibition and trade activities during the exhibition?

He Yongqian:

In order to strengthen exchanges and connections between enterprises and regions of the two countries and promote bilateral trade cooperation, the 9th China-Russia Expo will be held in Yekaterinburg, Russia from July 7 to 10.

The theme of this year's fair is “Pragmatic Cooperation between China and Russia Moving Forward Steadily”. Five major exhibition areas will be set up, including a central exhibition area, local cooperation, economic and trade exchanges, industrial projects, and cultural tourism consumption. More than 300 Chinese companies actively participated in the exhibition. The exhibits covered many fields such as mechatronics, agriculture, medical care, digital economy, and new energy. At present, preparations such as investment promotion and event organization have all entered the final stage.

During the fair, the two sides will also hold a number of economic and trade promotion activities to set up a window stage for local and industrial cooperation between the two countries. Friends from all walks of life at home and abroad are welcome to actively follow and participate in the 9th China-Russia Expo to deepen mutual understanding and share development opportunities through the exhibition platform. Thank you.

Pengpai News Reporter:

Recently, rainfall has increased in the south. We have also noticed that disasters such as flash floods have occurred in Guizhou. Local commercial authorities are actively doing a good job of insuring and supplying the necessities of life. Can you explain the relevant situation?

He Yongqian:

Since entering the main flood season in June of this year, heavy rainfall has occurred in many parts of southern China, causing floods. The Ministry of Commerce resolutely implements the spirit of General Secretary Xi Jinping's important instructions and instructions on flood control and disaster relief work, closely monitors changes in rain and flood conditions, strengthens market monitoring and early warning, guides relevant localities to increase supply organization, prepare for emergencies, and make every effort to guarantee the supply of necessities of life in the market.

In late June, the Rongjiang River in Guizhou was hit by a massive flood. The Ministry of Commerce immediately initiated an emergency response to guide the local community in disaster response and emergency insurance and supply of necessities of life. At present, the competent commercial department in Guizhou has initiated a joint insurance and supply mechanism to organize six emergency insurance and supply enterprises in nearby cities and counties to urgently transfer supplies such as bottled water, bread, rice cake, etc. that are urgently needed in the disaster area to guarantee the basic living needs of the masses.

In addition, in regions where rainfall is concentrated, such as Hunan, Hubei, Guangdong, Sichuan, and Henan, local commercial authorities also organize key insurance and supply enterprises to increase stocking and market supply as needed, carry out targeted emergency transportation drills, and strengthen supply guarantees for necessities of life.

According to monitoring by the Ministry of Commerce, the domestic necessities market is currently running smoothly and the supply is sufficient. On July 2, wholesale prices of food, cooking oil, pork, eggs, vegetables, fruits, etc. across the country were basically the same as a week ago. Thank you.

US International Market News Service Reporter: What do you think of the trade and economic development prospects between China and other member states during the BRICS summit this month? What policies is the Ministry of Commerce implementing to help Chinese exporters advance trade cooperation with the BRICS countries on payment systems, etc.?

He Yongqian:

BRICS members cover the world's major emerging market countries and developing countries, and have great potential for cooperation. China attaches great importance to deepening practical cooperation in the economic and trade fields with other BRICS members. In recent years, thanks to the joint efforts of all parties, the BRICS economic and trade cooperation mechanism has been continuously improved, and economic and trade cooperation ties have continued to be tightened. At the 15th BRICS Economic and Trade Ministers' Meeting held in Brazil in May of this year, China actively pushed all parties to reach a series of agreements on topics such as strengthening the multilateral trading system, data economy governance, trade and sustainable development, which enriched the content of BRICS economic and trade cooperation. In particular, in the face of current trade tension, all parties agree that BRICS members should work together to safeguard the multilateral trading system, resist unilateralism and trade protectionism, and safeguard the legitimate rights and interests of developing members. In the future, China is ready to work with other BRICS members to further implement the consensus reached at the leaders' meeting, promote the high-quality development of the “Big BRICS” economic and trade cooperation, and reach a new level. Thank you.

CNBC Reporter:

I have two questions. First, there are reports that Trump is considering bringing a business group to China in early September. Can the Chinese side confirm it? Second, China's “0 km” used car exports have recently attracted more international attention and increased the existential crisis in the local automobile industry. May I ask if this “0 kilometer” used car export phenomenon is an independent act of one or several car companies, or is there any policy support? What are China's plans for supervisory policies in this regard?

He Yongqian: Regarding your first question, I have no information to provide. However, China's attitude is consistent and clear. We hope that the US side and China will move in the opposite direction, and under the strategic guidance of the heads of state of the two countries, continue to enhance consensus, reduce misunderstandings, strengthen cooperation, and jointly promote the healthy, stable and sustainable development of Sino-US economic and trade relations based on the principles of mutual respect, peaceful coexistence, and win-win cooperation.

Regarding your second question, automobiles are “bulky and durable” consumer goods, and encouraging and supporting the development of the “used car” market is common practice in all countries. In February 2024, the Ministry of Commerce, together with relevant departments, jointly formulated the requirements and procedures for used car exports and issued a notice to officially launch the used car export business nationwide. Over the past year, various regions have organized and implemented the requirements of the announcement, strictly guaranteed quality and safety, and did a good job related to the export of used cars to satisfy overseas consumers' car purchase choices. In the next step, we will continue to work with relevant departments to strengthen guidance on used car exports and promote the healthy and orderly development of used car exports. Thank you.

Reuters Reporter:

Does China plan to extend the investigation into EU brandy imports again before the summit between the leaders of China and Europe to be held later this month, or will the 39% temporary tariff that has been implemented so far be converted into a permanent tariff?

He Yongqian:

The question you raised concerns China's anti-dumping investigation against imports of brandy originating in the European Union. Previously, we have responded to related questions several times. According to Chinese law and WTO rules, the Chinese investigation agency will issue a final ruling in the near future. Please follow the Ministry of Commerce's website for relevant developments. Thank you.

Bloomberg Reporter:

Does the Ministry of Commerce think the trade agreement between the US and Vietnam is aimed at China? Will it have an impact on China? Will it hurt the interests of Chinese exporters, and how will China respond?

He Yongqian:

The imposition of so-called “equal tariffs” on global trading partners by the United States is a typical unilateral bullying practice, and China has always resolutely opposed it.

The Chinese side has taken note of the relevant situation and is carrying out an assessment. China's position has always been consistent. We are happy to see all parties resolve their economic and trade differences with the US through equal negotiations, but we are resolutely opposed to any party reaching a deal at the expense of China's interests. If such a situation occurs, China will resolutely counter it and protect its legitimate rights and interests. Thank you.

This article was edited from the official website of the Ministry of Commerce; Zhitong Finance Editor: Chen Xiaoyi.