China's Commerce Ministry Welcomes WTO Ruling on Corn Subsidies
CGTN
/SOURCE : CGTN

(Yicai Global) March 1 -- China welcomes experts' ruling on its corn subsidies after they rejected the U.S. appeal at the World Trade Organization (WTO), the Ministry of Commerce (MOFCOM) said in a statement released on Friday.

The WTO on Thursday issued a report from experts on the U.S. disputes over China's agriculture subsidies.

China also expressed regrets about a lack of support from experts at the WTO after the U.S. won the ruling on its wheat and rice subsidies, the MOFCOM said.

The ministry said agriculture is a basic industry in the national economy and is related to people's livelihoods. It pointed out that government support for the sector is permitted under WTO rules and is a common practice among other countries.

China always respects the WTO rules, and will carefully evaluate the experts' export and properly handle the dispute, the ministry added. 

The country will continue to promote the development of the agriculture sector in line with the WTO rules and safeguard the stability of the multilateral trading system, the MOFCOM said.


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Keywords: WTO Ruling , Agriculture Subsidy , Trade Dispute , United States , Commerce Ministry , Corn , Wheat , Rice , Agriculture Commodities