EU "should recognize China as market economy"

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The Ministry of Commerce has said the EU should recognize China's status as a market economy, and should focus on restrictions on China's high-tech products exports.

At the second China-EU high-level Economic and Trade Dialogue held early in May, the EU side said it would continue to promote the recognition of China as a full market economy.

China's Commerce Minister Chen Deming stressed China does have a market economy. But he argued there's no way China and the EU can adopt the same macro-economic controls over their economies, since they're at different stages of development with different conditions.

He added the growing trade remedy actions against Chinese products have been a major concern for China. And since China is not widely regarded as a market economy, the EU then uses the prices of another country as its benchmark in deciding whether China is dumping products and by how much.