China’s Ministry of Commerce will ensure foreign firms can participate equally in equipment renewal and old-for-new exchange policies going forwards, Ling Ji, vice minister of Commerce told international business leaders on Wednesday.

Speaking at a round-table event held to clarify interpretations, Ling said the policy would expand domestic demand and bring opportunities for all types of enterprises, including foreign-funded firms.

Beijing still hopes to compromise with the EU to reduce definitive levies on Chinese EVs despite Brussels imposing provisional tariffs earlier this month, former trade officials and advisors told MNI. (MNI: China Expecting EU Tariffs On Electric Vehicles-Advisors)