The European Parliament has pointed out that China's ability to export cheap goods is causing serious consequences for the socio-economic situation.

"WTO members, including the European Union, need to be responsible and fully fulfill their obligations to the WTO" - this is the response that the Spokesperson of the Chinese Foreign Ministry continued to reiterate at a press conference this afternoon (May 13) in Beijing after being asked about the reaction to the European Parliament (EP) rejecting the granting of market economy status to China, which means that Chinese goods exported to this market still face strict regulations.

Chinese Foreign Ministry spokesman Lu Kang. (Photo: RT)

Speaking at a press conference, Chinese Foreign Ministry Spokesperson Lu Kang reiterated China's stance that WTO participants need to comply with the rules set forth by the organization.

Previously, on May 12, the Spokesperson of the Chinese Foreign Ministry responded when the European Parliament, with 546 votes in favor and 28 votes against, passed a resolution rejecting the granting of market economy status to China.

Mr. Luc Kang said that within the current framework of the WTO, there are no specific regulations on market economies and when regulations are made, it is necessary to abandon the anti-dumping investigation method based on the price calculation method of the "representative country" (ie the country that has been recognized as a market economy).

The European Parliament resolution stated that China's overproduction capacity and export of cheap goods are causing "serious consequences for the environment, economic and social situation" for European Union member states.

This is an unexpected result for China in its efforts to promote reforms in the hope of being officially granted market economy status by the European Union by the end of this year. This will greatly affect trade relations between China and the European Union as well as China's economic development strategy in the coming time./.

According to VOV