(Yicai Global) July 6 -- The total number and value of trade remedy investigations against Chinese products declined sharply in the first half of 2017, the ministry of commerce (Mofcom) said, but both figures still remain at a high level, roughly tying those recorded in the same period over the last five years.

In the first half, 15 countries and regions launched 37 trade remedy investigations, including 28 anti-dumping inquiries, four countervailing investigations and five safeguard measures against Chinese products, said Mofcom spokesman Gao Feng at a press briefing today. The value of the products affected totals USD5.3 billion. A total of 65 trade remedy investigations worth USD8.5 billion were conducted during the same period last year, marking a record-high number.

Both the number and value of trade investigations imposed on Chinese exporters remained at a relatively high level since the breakout of global financial crisis, despite a noticeable year-on-year drop. China is still the main target of trade remedy investigations, according to the 'Report on G20 Trade and Investment Measures' jointly released by the World Trade Organization (WTO), OECD and the United Nations Conference on Trade and Development.

In the first half, Gao noted, India carried out the largest number (12) of trade investigations on Chinese products, followed by the US (11). Among all product categories, light industry products were subject to the largest number (10) of investigations, and mechanical and electrical products topped the list in terms of the total value of trade investigations (USD2.3 billion).

China opposes abusing trade remedy measures, Gao added, stressing that international trade is mutually beneficial, and trade remedy measures should conform to the WTO rules. They should only be used to ensure fairness in trade. China urges all countries to tackle trade frictions through consultation and industry cooperation, and work together to create a favorable environment for global economic recovery and sustainable development, uniting all nations in the world as a community of common destiny.