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China not to blame for steel industry flop in Europe

CCTV.com

05-28-2016 00:12 BJT

China's Foreign Ministry has said that the global economy, rather than China, is to blame for problems in the European steel industry. In the statement, the ministry also urged the European Union to unconditionally honor China's accession to the World Trade Organization.

"Only 7.6 percent of China's steel exports go to Europe, while just 14 percent of the EU's steel imports come from China. Obviously it doesn't make sense to blame China for any difficulties Europe may be having with its steel industry," said Chinese Ministry of Foreign Affairs Spokeswoman Hua Chunying.

Hua said the struggling global economy and shrinking demand were to blame for the industry problems. She said the world needs to work together to boost economic recovery and stimulate new growth.

On May 12th, the European Parliament passed a non-legislative resolution which rejected granting market economy status to China. Hua pointed out that within WTO rules, there is no such concept as market economy status and that the EU should unconditionally honor China's WTO accession protocol on December 11th 2001.

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