Brussels, 29/06/2004 (Agence Europe) - On Tuesday, China said the European Commission's refusal to grant it market economy status was 'unreasonable' and 'contradicted' the desire to see Beijing meet its duties under the World Trade Organisations. A spokesperson for the foreign ministry in China said the EU Member States wanted China to fully meet its commitments to the WTO but refuse to grant it the status of a market economy, which is unreasonable and contradictory. He said that in China the prices of more than 90% of products are set by the market and the non-state economy already made up a considerable share of the national economy.
On 28 June, the Commission announced that it wanted Peking to make progress in four areas before it granted it the status of market economy (see yesterday's EUROPE, p. 12).