China's Ministry of Commerce commented on reports that the European Union is considering extending the existing bilateral trade agreement between the parties regarding hybrid vehicles to the chemical industry and other sectors.
During a regular press briefing on Thursday, the ministry stated that any artificial restrictions on ordinary trade could violate World Trade Organization (WTO) rules. Furthermore, such restrictions are capable of increasing costs for downstream industries and jeopardizing the stability of global industrial and raw material supply chains.
Ministry representatives also noted that recent China-EU negotiations on trade and investment have shown positive momentum. This indicates that both sides have the desire and capacity to resolve disagreements through dialogue.