Since being designated as a leading zone for socialist modernization in July 2021, Shanghai's Pudong New Area has achieved a foreign trade volume totaling 7.62 trillion yuan (about 1 trillion U.S. dollars) over the past three years, according to the Shanghai Customs.
More than 30 percent of imports and exports have been high-tech products, while exports of high-end manufacturing products like ships have maintained rapid growth.
Pudong has undergone a remarkable transformation since being established as a new area in 1990, emerging as a popular destination for investors, innovators and policy pilot projects.
Pudong's strong foreign trade performance, a key driver of Shanghai's economic development, reflects China's continued opening-up and the growing competitiveness of its high-tech and high-end manufacturing sectors on the global stage.
Shanghai Pudong New Area's foreign trade exceeds 7 trillion yuan
Mutual trust between the European Union and China will be undermined if the European side conducts separate price commitment talks with certain Chinese firms while engaging in general negotiations with China concerning electric vehicles (EVs), a spokesperson with China's Commerce Ministry said Monday. The EU's insistence on separate talks with the relevant Chinese firms will also disrupt the overall negotiation process and add more administrative costs to follow-up implementation and supervision of price commitment agreements, the spokesperson stated.
Chinese Commerce Minister Wang Wentao and European Commission Executive Vice President and Trade Commissioner Valdis Dombrovskis held a round of talks via video link on Friday.
The European Commission said in its news release that the negotiations between the EU side and the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) do not exclude discussions with individual Chinese car exporters.
China made it clear in the talks that the CCCME had been fully authorized by different types of Chinese enterprises to put forward a price commitment plan that represents the overall position of the industry, the spokesperson said.
On this basis, China and the EU have conducted several rounds of consultations with a lot of efforts made and some progress achieved, the spokesperson said.
With the next phase of talks already launched, China hopes that the two sides will build on previous consultations and accelerate the negotiation process, so as to secure substantive breakthroughs as soon as possible, the spokesperson added.
The European Commission, the executive arm of the 27-nation EU, is set to impose countervailing duties of up to 35.3 percent on EVs imported from China, additional to the EU's existing 10 percent tariff on imported cars, following a qualified majority vote on Oct 4.
EU's separate EV price commitment talks with Chinese firms will harm mutual trust: official
