China Bars Firms From EU Foreign-Subsidy Probes, Calls EU Reach ‘Extraterritorial’
China pushed back against the European Union’s use of its Foreign Subsidies Regulation, with the commerce ministry criticizing the bloc after the justice ministry said related cross-border probes amounted to “improper extraterritorial jurisdiction.” Under an updated anti-sanctions law, Beijing has also banned Chinese companies from engaging with the EU process, and Nuctech has been barred from assisting in an EU probe.
The EU’s Foreign Subsidies Regulation lets the European Commission investigate financial contributions from non-EU governments to companies active in the bloc and impose redressive measures if it finds distortive subsidies.
From the sources (3 posts)
@businessChina’s commerce ministry pushed back against the EU’s use of its Foreign Subsidies Regulation after the justice ministry said related cross-border probes constituted “improper extraterritorial jurisdiction”
@firstsquawkChina’s commerce ministry pushed back against the EU’s use of its Foreign Subsidies Regulation after the justice ministry said related cross-border probes constituted “improper extraterritorial jurisdiction”
@fberminghamBig breaking news in EU-China relations Under its updated anti-sanctions law, Beijing has banned Chinese companies from engaging with the EU's foreign subsidies regulation, naming the probe against Nuctech - via @xiaofeixu Nuctech is bann