BEIJING, March 6 (Reuters) - China commerce ministry on Friday expressed "grave concern" over the EU's proposed Industrial Accelerator Act (IAA) which imposes restrictions on foreign investment in
China Voices Grave Concern Over EU Industrial Accelerator Act and New Trade Barriers
China's Response to the EU Industrial Accelerator Act
China Expresses Grave Concern
BEIJING, March 6 (Reuters) - China commerce ministry on Friday expressed "grave concern" over the EU's proposed Industrial Accelerator Act (IAA) which imposes restrictions on foreign investment in batteries, EVs, solar PV and critical raw materials, according to a statement.
Monitoring and Assessment of the Legislation
A ministry spokesperson said China will closely monitor the legislation process of the act and assess its impact and China and Beijing will resolutely defend Chinese firms' legitimate rights and interests.
Details of the Industrial Accelerator Act
The intensely debated IAA, unveiled Wednesday, will set low-carbon and 'Made in EU' requirements for public procurement of, or subsidies for, making aluminium, cement and steel, and technologies including wind turbines, electrolysers or electric vehicles.
China's Critique of EU Trade Barriers
The Chinese spokesperson said the bloc's use of industrial development and green transition goals to justify new barriers amounts to protectionism that will backfire, undermine global trade rules and fair competition, and disrupt supply‑chain stability.
(Reporting by Shi Bu and Ryan Woo; Editing by Toby Chopra)
