China welcomes WTO's rejection of US petition against corn subsidy policy: MOFCOM
By Dong Feng
People's Daily app
1551426977000

Beijing (People's Daily) - China welcomes the World Trade Organization (WTO) expert group’s rejection of a US petition regarding China’s corn subsidy policy and regrets the group’s failure to support the Chinese policies for wheat and rice.

VCG111170237571.jpg

MOFCOM (File photos: VCG)

An official from Department of Treaty and Law of the Chinese Ministry of Commerce (MOFCOM) released a statement noting the proposal from China on the calculation of the subsidy level for the minimum purchase price policy for wheat and rice is not supported, a post on the Ministry’s official website on Friday.

The WTO issued a report from the expert group on the US dispute against the food subsidies in Geneva on Thursday.

The statement stressed that agriculture is a basic industry related to the national economy and people's livelihood. The Chinese government supports domestic agriculture, guarantees farmers' income, and protects food security. These are common practices of all countries and are permitted by WTO rules.

China has always respected WTO rules and will carefully evaluate the report delivered by the expert group.

“We will properly handle the rulings according to the WTO dispute settlement procedures, and actively maintain the stability of the multilateral trading system. China will continue to promote agricultural development in a manner consistent with WTO rules,” the statement said.