EU Hails Breakthrough with China on Industry Subsidies

Chinese Premier Li Keqiang promised the European Union on Tuesday that Beijing would no longer force foreign companies to share sensitive know-how when operating in China and was ready to discuss new global trading rules on industrial subsidies, report Philip Blenkinsop and Robin Emmott on Reuters.com.

Marking a significant shift, Li’s pledge at the annual EU-China leaders’ meeting follows similar offers to the United States and potentially signals an opening for which European companies have long lobbied.

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“European companies will enjoy equal treatment,” Li told a news conference following the three-hour summit in Brussels, offering to set up a disputes mechanism to handle complaints.

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