European Court Ruling Boost Chinese Entrepreneurs' Confidence: MOC

 
Chinese entrepreneurs will be boosted after an European Court of Justice ruling safeguarded their overseas rights and interests, according to China's commercial authorities on Nov. 20.

On November 15, the court ruled on a trade dispute between a Chinese shoemaker and the European Commission. It overturned the six-year-long anti-dumping duties the commission imposed to Chinese shoe companies.

Commenting on the final ruling on Nov. 20, 2012, Ministry of Commerce spokesman Shen Danyang said that China would continue to adopt legal means under the rules of the World Trade Organization (WTO) in trade disputes to protect the overseas interests of Chinese corporations.

The European Commission imposed the anti-dumping taxes to Chinese shoe producers in a bid to protect local manufacturers, in October 2006.

The duties were rated at 16.5 percent, said Aokang Group Co.(Aokang), one of the shoemakers involved and the only firm that decided to go through the appeal process, lasting six years after their first lawsuit was objected in 2010.

Shen said the ruling represents a warning to the European Commission to strictly exercise its administrative power in accordance with the law.

The case will provide guidance to the handling of similar cases in the future, Shen added.

Aokang chairman, Wang Zhentao, said the case has given the company an opportunity to learn how to address international trade disputes.

"When looking back, we consider the anti-dumping duties to some extent a good thing, which has prompted us to improve the structure of our products and product technology," Wang said.

After entry to the WTO in 2001, China has filed 11 lawsuits on international trade disputes.