Skip to Content Facebook Feature Image

China urges EU to stop abusing foreign subsidies probe tools

China

China

China

China urges EU to stop abusing foreign subsidies probe tools

2026-05-16 17:37 Last Updated At:20:27

China hopes the European Commission will promptly correct its wrong practices, stop its unreasonable suppression of Chinese enterprises, and cease abusing investigation tools under the Foreign Subsidies Regulation (FSR), a Ministry of Commerce spokesperson said on Saturday.

The comments came in response to a notice issued by China's Ministry of Justice on Friday, which said that the EU's cross-border anti-subsidy probe of Chinese companies under the FSR constitutes unlawful extraterritorial jurisdiction.

The spokesperson emphasized that China has consistently opposed the EU's abuse of unilateral tools such as the FSR to suppress Chinese companies.

Recently, the EU has not only intensified its investigations into Chinese companies and expanded their scope, but it has also escalated its probes into companies, including in-depth probes of Chinese security check company Nuctech. Additionally, it has compelled Chinese banks to cooperate with these investigations and has unreasonably demanded large amounts of information from within China that is largely unrelated to the probes, according to the spokesperson.

These moves have seriously affected the normal investment and business operations of multiple Chinese companies and banks in Europe, said the spokesperson.

As early as January 2025, the Ministry of Commerce concluded through an investigation that the EU's practices under the FSR constituted trade and investment barriers, and called on the EU to rectify these practices while advocating for properly managing differences through dialogue, the spokesperson said. However, the EU has insisted on its own course and has continued down the wrong path.

In response, the Ministry of Justice, in coordination with the Ministry of Commerce, determined after a thorough investigation that the bloc's anti-subsidy probe into Nuctech constitutes unlawful extraterritorial jurisdiction under the rules on countering foreign states' unlawful extraterritorial jurisdiction. No organization or individual may comply with or aid the EU's unlawful extraterritorial jurisdictional measure.

China urges the EU to provide a fair, just, and predictable business environment for Chinese companies investing and operating in Europe, the spokesperson said.

China has always advocated managing differences through dialogue and consultation and hopes the EU will work with China to resolve issues through friendly consultations. At the same time, China will closely monitor the EU's relevant actions and will take necessary measures to firmly safeguard national security and the legitimate rights and interests of Chinese companies, according to the spokesperson.

China urges EU to stop abusing foreign subsidies probe tools

China urges EU to stop abusing foreign subsidies probe tools

Issuing panda bonds in China allows Pakistan to tap the second largest, and the second deepest capital market in the world, said Pakistan's Minister for Finance and Revenue Muhammad Aurangzeb in Beijing on Friday.

The issuance of the bonds on Friday, worth 1.75 billion yuan (about 255.79 million U.S. dollars), marked Pakistan's first such sovereign bond in the offshore capital markets aimed to support the development of sustainable and climate-resilient infrastructure across the water, energy and health sectors.

Talking to China Global Television Network (CGTN), Aurangzeb explained the significance of the panda bond program.

"This particular transaction really focuses on three key elements. One is from Pakistan's perspective, we have had financings in many forms and shapes with China. Today marks a very important event that we tap the second largest, and the second deepest capital market in the world. The second thing is, as I mentioned earlier, we will work with China and therefore it's a win-win in terms of the internationalization of RMB. The third one is that we are very grateful to all our partners in China, starting with regulators, and the Chinese authorities," said the minister.

He also expressed confidence in more future bilateral economic and financial cooperation within the frameworks of the Belt and Road Initiative (BRI) and the China-Pakistan Economic Corridor (CPEC). "I think it's not only trade, but also the investment opportunity. Because as you know we have CPEC Phase I as a flagship of the BRI, which was almost entirely about infrastructure. CPEC Phase II is primarily business to business, and it's about monetization of that infrastructure. I think between the two countries, the priorities are quite aligned in terms of the key priorities that President Xi has put forward for the BRI. So all of this I think is moving in the right direction," said Aurangzeb.

Panda bonds refer to renminbi-denominated bonds issued by overseas entities in China. In recent years, the panda bond market has seen steady gains, becoming increasingly attractive to issuers.

According to data from the People's Bank of China, more than 170 billion yuan worth of panda bonds were issued by governments, international development institutions, financial firms and large corporations from multiple countries in 2025, with the outstanding volume rising 34 percent year on year.

Pakistani finance minister on issuing panda bonds in China

Pakistani finance minister on issuing panda bonds in China

Recommended Articles