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China welcomes EU decision on zinc plates

(Xinhua)
Updated: 2009-02-11 10:46

China welcomed the European Union's decision to terminate an anti-dumping investigation against Chinese zinc coating plates, the Ministry of Commerce (MOC) said in an online statement Tuesday.

Related readings:  Zinc futures surge on supply shortages  Mining: China copper, zinc firms restore operations  Major spending on zinc, lead smelting  Copper, zinc soar to limits

The EU decision was announced on Saturday.

The anti-dumping investigation started in December 2007. The case covered nearly 200 Chinese producers and products worth $1.206 billion, making it the largest anti-dumping case EU has launched against Chinese products since 1979.

The EU has launched seven anti-dumping investigations on Chinese-made steel products since September 2007, including carbon steel fasteners, zinc coating plates and cold rolled stainless steel sheets.

China hoped the EU would maintain its objective and fair stance when dealing with the other cases and make a decision according to World Trade Organization rules, MOC spokesman Yao Jian said.

China and the EU should enhance cooperation and boost bilateral trade and investment to address current challenges, the MOC statement said.

Bilateral trade rose 19.5 percent year-on-year in 2008 to $425.58 billion, accounting for 16.6 percent of China's total trade.