Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

EU e-bike makers make complaint against Chinese imports

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/02/2017 | 12:18am CEST
A fuel station for e-bikes is pictured in the historic city centre of the western German city of Koblenz

BRUSSELS (Reuters) - European producers of electronic bikes (e-bikes) have filed a complaint with the European Commission against cheap Chinese e-bike imports, saying that they are sold in the bloc at excessively low prices with the help of unfair subsidies.

The European Bicycle Manufacturers Association (EBMA) lodged the complaint alleging dumping of e-bikes by Chinese companies which they say are flooding the market at prices sometimes below the cost of production.

The Commission has until late October to determine whether to start an investigation.

The EBMA is also preparing a related complaint alleging illegal subsidies and asking for registration of Chinese e-bike imports, which could allow eventual duties to be backdated.

Such an investigation would be the latest in a string of probes into Chinese exports ranging from solar panels to steel and could raise trade tensions with Beijing, particularly with a subsidy inquiry into the support provided by the Chinese state.

Bicycles have already been a flashpoint. The EU blamed China last December for scuppering a global environmental trade deal by insisting that bicycles be included as a tariff-free green product. Chinese conventional bicycles have been subject to EU anti-dumping duties since 1993.

The EBMA says more than 430,000 Chinese e-bikes were sold in European Union in 2016, a 40 percent increase on the previous year, and forecasts the figure will rise to around 800,000 in 2017.

EBMA secretary-general Moreno Fioravanti said Europeans buy some 20 million bicycles per year, of which about 10 percent are now e-bikes, with the potential to rise to a quarter within five years.

European companies had pioneered the pedal-assist technology that e-bikes use and had invested about 1 billion euros ($1.2 billion) last year, he said, but was risking losing its industry to China.

"Today the European bikes are the best in the world and we have to invest every year to renew the range. The Chinese are getting the money from the government and the subsidies have an impact of 30, 40, even 50 percent of the price of the product," Fioravanti said.

"You have subsidies, which generate overcapacity, which generate dumping," he said.

(Reporting by Philip Blenkinsop. Editing by Jane Merriman)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
03:54aSOUTH PERTH CITY COUNCIL : Free battery recycling boxes
PU
03:49aOil prices rise on Iran sanctions worries, falling Venezuelan output
RE
03:49aJAIF JAPAN ATOMIC INDUSTRIAL FORUM : Fukushima Exported Record Level of Agricultural Products Last Year
PU
03:30aSamsung Electronics flags mobile weakness as chips power record first-quarter profit
RE
03:23aCOLUMBIA GAS OF PENNSYLVANIA : Pipeline Upgrade Ensures Continued Delivery of Safe, Reliable Natural Gas to South Park Customers
PU
03:16aNEWS HIGHLIGHTS : Top Company News of the Day
DJ
03:16aNEWS HIGHLIGHTS : Top Global Markets News of the Day
DJ
03:09aGRAIN GROWERS : Charles Sturt University ag science students show off their skills at US crops competition
PU
03:08aSteven Cohen's Point72 is sued over use of California money manager's name
RE
03:04aCanada sees progress on NAFTA auto rules; steel tariffs loom
RE
Latest news "Economy & Forex"
Advertisement