China says it reached understanding with EU on hybrid cars — South China Morning Post

In Beijing, China, China and the European Union reached an understanding on trade in hybrid vehicles, China’s Ministry of Commerce said following talks on Friday, reports South China Morning Post. The Chinese side described the outcome as an understanding but provided no details about the content of such an arrangement.

Exports of rare-earth minerals

Beijing also said it was ready to continue accelerating the issuance of licences for exports of rare-earth minerals to Europe. The sides will continue talks on tariff reductions and minimum-price arrangements that would allow Chinese electric vehicles to enter the EU market at a lower duty rate.

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Next round of talks

The Chinese ministry published a 16-point joint agreement listing the results of the latest round of talks. At the same time, there was no corresponding version of the document from the EU at that point. According to the Chinese side, talks are to resume in March next year.

Most of the points concern further consultations on long-standing trade issues, including medical equipment and power inverters. European Commissioner for Trade Maroš Šefčovič, who met with Chinese Commerce Minister Wang Wentao and Vice Premier He Lifeng, insisted that Beijing limit exports of hybrid vehicles to Europe. This came amid growing shipments of such vehicles in recent months.