mofcom

China decides to remove tariffs on Australian wine, starting from Friday

Bottles of Australian wine on the shelf of a supermarket in Hangzhou, East China's Zhejiang Province on November 27, 2020 Photo: VCG

Bottles of Australian wine on the shelf of a supermarket in Hangzhou, East China’s Zhejiang Province on November 27, 2020 Photo: VCG

China’s Ministry of Commerce (MOFCOM) announced on Thursday a decision to cancel anti-dumping and anti-subsidy tariffs levied on Australian wine, effective from Friday.

“As the situation of China’s wine market has changed, the anti-dumping and anti-subsidy measures imposed on Australian wine are no longer necessary,” the MOFCOM said in a statement appearing on its official website.

On October 31, 2023, the Australian Grape & Wine Incorporated filed an application to the MOFCOM for a review on anti-dumping and anti-subsidy measures imposed on Australian wine, it said. As the situation has changed a lot now, they hope the MOFCOM will conduct a review on the necessity of continuing to implement the remedy measures or move to remove the measures according to a review conclusion.

MOFCOM said earlier that it began reviewing the anti-dumping and countervailing duties on Australian wine as of November 30, 2023.

China started to implement a five-year anti-dumping tariff on imported wine products from Australia from March 28, 2021.

Global Times

China opposes revised US chip export restriction, calls for predictable business climate

Production of semiconductor chip File photo: VCG

Production of semiconductor chip File photo: VCG

China has expressed strong opposition to the latest US revised rules on artificial intelligence (AI) chips export rules, saying that it will disrupt the international semiconductor market as well as cooperation among enterprises. 

The remarks were made by China’s Ministry of Commerce (MOFCOM) on Sunday, noting that US’ latest revision of semiconductor export controls came less than six months since the US introduced the rule. 

The Biden administration on Friday (US time) revised rules aimed at making it harder for China to gain access to US AI chips and chipmaking tools, as part of the US efforts to curb China’s chipmaking industry over “national security concerns.”

The new rules, which run 166 pages, will go into effect on April 4, and they expand the restrictions to laptops containing those AI chips, Reuters reported. 

Enterprises from all countries, including those from the US, want a stable and predictable business environment, said the MOFCOM. 

The abuse by the US of national security concepts, reckless modification of rules and tightening of control measures have not only set up more obstacles to normal economic and trade cooperation between Chinese and US enterprises and imposed a heavier burden for compliance, but also created huge uncertainty for the global semiconductor industry, the MOFCOM noted. 

The revision of the US chip export rules has seriously affected the mutually beneficial cooperation between Chinese and foreign enterprises and harmed their legitimate and lawful rights and interests, said the MOFCOM, reaffirming that China strongly opposed the revision. 

In October 2023, the US initially introduced an export restriction on related chips and semiconductor manufacturing equipment to China, seeking to halt shipments of more advanced AI chips designed by Nvidia and other companies.

The MOFCOM said that the semiconductor industry is highly globalized, and has formed an industrial pattern that involves multiple parties, thanks to the law of the market and corporate choices.

The MOFCOM stressed that China is the world’s largest semiconductor market, and it is willing to work with all parties to strengthen mutually beneficial cooperation and promote the security and stability of the global semiconductor industry chain.

Global Times