ecns [expanded by feedex.net]
ecns
China regrets WTO rare earth exports ruling
http://www.ecns.cn/business/2014/03-27/106721.shtml
Mar 26th 2014, 23:24
2014-03-27 08:24 Xinhua
China's Ministry of Commerce (MOC) reacted with regret to a report released on Wednesday by the World Trade Organization (WTO) that judged some Chinese raw materials exports haven't followed rules on export tariffs and quotas.
The WTO report was a response to accusations made in March of 2012 by the United States, European Union and Japan that China had broken rules by limiting exports of materials including rare earth, tungsten and molybdenum.
The WTO formed a dispute settlement panel in July of 2012.
The MOC's legal department replied on Wednesday that the ministry is evaluating the report and adopting measures in accordance with WTO dispute settlement protocols.
Facing severe resource and environment pressure, the Chinese government has enhanced management of resource products which are high-polluting and high-energy consuming. "This meets the requirement of protecting such resources that can be exhausted and environment in China, and also contributes to the global sustainable development," said an unidentified official with the ministry.
The Chinese side considers these measures tally with goals of sustainable development advocated by the WTO and are conducive to the coordinated development of resources, environment and human beings, said the official.
The Chinese side will keep enhancing its management of resource products under the WTO rules to preserve fair competition, the official added.
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