Bouygues, Orange and Iliad Strike €20.35 Billion Deal to Acquire SFR 
Alaska Air Group Eyes Return of Financial Guidance as Fuel Market Volatility Eases 
SK Hynix Stock Rebounds as AI Memory Chip Demand Fuels Expansion Plans 
Naver Stock Jumps on NVIDIA Partnership to Build South Korea’s AI Infrastructure 
Italy’s ITA Airways Weighs Legal Action Against Pratt & Whitney Over Grounded Airbus Fleet 
GSK Reportedly Nears $9 Billion Acquisition of Cancer Drug Developer Nuvalent 
Qualcomm Stock Gains After Jensen Huang Endorsement 
Meta Partners With Reliance to Launch First AI-Powered Data Center in India 
Apple Unveils Enhanced Apple Intelligence and Next-Generation Siri at WWDC 2026 
Honda Leadership Crisis Deepens as Retired Executives Challenge CEO Toshihiro Mibe’s Strategy 
OpenAI Files Confidential IPO Draft as AI Giants Race Toward Public Markets 
Coupang Hit With Record $409 Million Fine Over Data Breach Affecting 33 Million Users 
OpenAI Eyes Massive 10GW Ohio Data Center Campus in Potential $500 Billion AI Infrastructure Deal 
Intesa Sanpaolo Launches €30.6 Billion Bid for Monte dei Paschi to Drive Italian Banking Consolidation 
Changchun Targets EV Growth as China’s Auto Industry Consolidation Accelerates 
J.P. Morgan Sees Major Upside for Prysmian as Optical Fiber Prices Surge 
China's ambassador to the European Union is calling the EU's investigation into Chinese electric vehicle manufacturers over state subsidies "unfair." In an interview with Bloomberg News, Fu Cong expressed his discontent with the probe.
Reuters reported that Fu assured that China is cooperating with the EU's investigation to prevent a situation where both sides would resort to trade measures against one another. By engaging with the probe, China aims to avoid any escalation of tensions, according to Yahoo.
Comparative Analysis of Subsidies
The Chinese ambassador pointed out that the EU also subsidizes its own companies. Fu argued that if China were to adopt the same approach, numerous aspects of EU policies could fall under investigation.
Last year, the European Commission initiated an investigation to consider imposing punitive tariffs on Chinese electric vehicle imports. The objective was to safeguard European Union producers, who claimed to be adversely affected by cheaper Chinese electric vehicles benefiting from state subsidies.
As part of the ongoing investigation, European Commission investigators are planning to inspect Chinese automakers in the coming weeks. BYD, Geely, and SAIC are among the companies to be visited by the investigators.
Growing Tensions
Tensions between China and the EU have been escalating due to Beijing's closer ties with Moscow following Russia's invasion of Ukraine. This evolving alliance has led the EU to reduce its reliance on China, particularly for materials and products required for its green transition.
Amidst these tensions, it is crucial for both China and the EU to maintain a fair and balanced trade relationship. The ongoing probe highlights the importance of addressing concerns related to state subsidies and establishing a level playing field for all parties involved.
As the investigation progresses, it is essential for China and the EU to prioritize cooperation. By finding common ground and resolving trade disputes amicably, both sides can work towards fostering a mutually beneficial trade environment.
Photo: BYD Newsroom
