China's Commerce Minister Wang Wentao, as reported by Reuters and confirmed by financial news outlets including CNBCtech and financialjuice, is set to visit Paris for discussions primarily focused on the burgeoning export of inexpensive electric vehicles (EVs) to the European market. This visit comes amid concerns from the US and Europe regarding Chinese clean-tech subsidies, suggesting a competitive edge that may not entirely rely on innovation alone. Before his departure, Wang met with executives from leading Chinese automakers BYD and CATL, signaling the importance of the talks. The discussions are part of a broader context, including an ongoing investigation by the European bloc into whether the Chinese EV industry has unfairly benefited from subsidies. Concurrently, statements from Chinese officials, echoed by Umesh_Desai, assert that their EV companies do not depend on government subsidies for competitive advantage, emphasizing innovation as the key driver. These developments occur as Chinese EV stocks see a rally, following Minister Wang's remarks dismissing US and European concerns over capacity and subsidy reliance as groundless.
China says innovations not subsidies powering EV edge as Yellen raises 'overcapacity' concerns https://t.co/wzvSfGquBg
Chinese EV stocks rally after China Commerce Minister Wang Wentao says US and European accusations overcapacity are groundless, who added Chinese electric vehicle companies were not reliant on government subsidies to gain competitive advantages https://t.co/LquNn7qMps
China commerce minister kickstarts Europe trip with Chinese EV firms meeting https://t.co/2Aer9SOUkm
China's commerce minister kicked off a trip to Europe by meeting top Chinese automakers BYD and CATL, as he prepares to discuss an ongoing probe by the bloc into whether China's EV industry has benefited from unfair subsidies https://t.co/lyL5YBpa65
China's commerce minister kicked off a trip to Europe by meeting top Chinese automakers BYD and CATL, as he prepares to discuss an ongoing probe by the bloc into whether China's EV industry has benefited from unfair subsidies. More here: https://t.co/pWBDggGe8X
🔴 CHINA COMMERCE MINISTER STATES: ELECTRIC VEHICLE COMPANIES IN CHINA DO NOT RELY ON SUBSIDIES TO GAIN COMPETITIVE ADVANTAGE
.@SecYellen's visit to #China is likely to focus on US concerns about Chinese clean-tech subsidies. But, rather than imposing tariffs on Chinese EVs and other products, the US and Europe should fight fire with fire, write @GernotWagner and Shang-Jin Wei. https://t.co/Zdj0xdbYMp
China's commerce minister due in Paris for electric vehicle talks https://t.co/y0cLFalniK https://t.co/HCisDAqZtN
🇨🇳🇪🇺🚗🔌 (Reuters) - China's commerce minister Wang Wentao is due in Paris on Sunday for talks that are expected to cover China's fast growing export of cheap electric vehicles (EVs) into the European market. Four sources briefed on Wang's trip told Reuters in late March that… https://t.co/ds1GotBXoa
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