Hardware industry: How does China-Europe Fasteners win?

From the resolution of this fastener dispute, we can see that in recent years Chinese companies have gradually changed from the “passive role” of the “appealing party” to the “active role” of the “appealing party”; from familiarizing themselves with and learning about the WTO rules Turn to using these rules to safeguard their rights and interests.

In the 30-month dispute over China-European fastener trade, China finally used the WTO rules to win the case. The World Trade Organization (WTO) Appellate Body issued a report on July 15 stating that the EU’s anti-dumping measures on carbon steel fasteners imported from China have violated WTO rules.

This was the outcome of the anti-dumping investigation initiated by the European Union in 1979 and the first case of China's WTO indictment against the European Union since China's accession to the WTO. The way in which it resolves trade friction disputes is also worth learning from many domestic industries and enterprises that have suffered trade friction.

The ruling in this case implied that the WTO's unfairness in the EU's current trading system was seriously criticized in violation of the WTO's rules and principles. The WTO Appellate Body found in the report that the provisions of the law violate WTO rules and make Europe anti-dumping against China. The investigation of certain provisions of the legislative basis no longer exists, which will help improve the competitive environment of Chinese companies in the international market.

As the overall economic recovery in the world continues to be slow and international trade protectionism has risen, today China, as a major power in international trade, has inevitably encountered more and more trade frictions. It is still a long way to go against the abuse of anti-dumping rules and trade protectionism. In dealing with concrete incidents of unfair treatment in the future, Chinese industries and enterprises should be better at using the WTO and other international platforms to resolve disputes and safeguard free trade and fair competition.

Over the past 10 years since China's accession to the WTO, trade frictions encountered by China have increased rapidly, especially since the outbreak of the international financial crisis. The economic recovery process has been further divided in several countries. Developed countries often arbitrarily abuse anti-dumping laws and regulations and develop unrealistic environments for WTO members. Standards and other "green barriers" to implement restrictions on foreign products. China has become the main target country for trade protectionism, and more and more anti-dumping investigations have been initiated against Chinese products. As the largest industry for China’s exports, the electromechanical industry was deeply troubled by it.

It is also in the course of the past 10 years that China has conscientiously fulfilled its commitments in opening markets, adjusting and improving laws and regulations, and actively integrating itself into the world economy. China’s opening up to the outside world has entered a new phase of all-round, multi-level, and wide-ranging fields. Various industries and enterprises in China are also learning and familiarizing themselves with the relevant rules of the WTO.