(Yicai Global) April 14 -- China has fulfilled its obligation to the World Trade Organization, whose members have accepted its first-ever report on local level economic subsidies, a government spokesman said.The US last week described the report as incompleteand said many export subsidies violate WTO rules.
China submitted a mandatory report on subsidies between 2001 and 2014 to the WTO last July, covering 100 policies of 19 provinces and three municipalities.The US said China had not provided details on subsidies for the steel, fisheries and aluminum sectors.
The WTO authorizes its members to determine the content and scope of subsidy reports based on their understanding of the relevant rules, commerce ministry spokesman Sun Jiwen said at a press conference yesterday.
Members may have differing opinions on how complete they are, Sun said. For the purpose of complying with the transparency obligation, China also includes export subsidies that were previously put in place in the notification submitted to the WTO. Per the ministry's information, these export subsidies have been abolished or suspended.