CHINA SLAMS BUSH'S WTO MOVE

摘要

A top Chinese steel official last week attacked the decision by the USA to refer Beijing to the World Trade Organisation over its export subsidies. The Bush administration's complaint about subsidies is "baseless" given that China is one of the few countries that imposes export duties on its products, said Qi Xiangdong, vice secretary-general of the China Iron & Steel Assn. The argument over subsidies comes as traders report continuing rumours that export tax rebates for steel could be cut in the coming weeks. "This is purely trade protectionism from the USA," Qi said. "If [the Chinese system] is unfair, then it is unfair only for Chinese companies, as they have only been getting a subsidy of 8 percent, not the full 17 percent," he added, referring to the current export tax regime.