Core Viewpoint - The Chinese Ministry of Commerce responded to concerns regarding the EU's anti-dumping investigation into Chinese pork products, emphasizing that the investigation was initiated based on domestic industry applications and conducted in accordance with Chinese laws and WTO rules [1][2]. Group 1: Trade Relations and Investigations - The anti-dumping investigation into EU pork products was initiated at the request of the Chinese domestic industry, ensuring that all parties' rights were protected during the process [1]. - In contrast, the EU has initiated seven anti-dumping investigations against China this year, accounting for nearly 40% of its total external investigations, involving approximately $3.5 billion in Chinese exports [1]. - Currently, there are 95 ongoing trade remedy measures against China by the EU, affecting around $39.3 billion in Chinese exports [1]. Group 2: Dialogue and Cooperation - China has engaged in over 20 rounds of consultations with the EU to seek mutually acceptable solutions, demonstrating a commitment to dialogue and cooperation despite ongoing trade tensions [2]. - The Chinese government maintains an open and cooperative stance, emphasizing the importance of dialogue to address industry concerns and create a stable market environment for both parties [2].

Core Viewpoint - The Chinese Ministry of Commerce emphasizes a cautious and restrained approach to trade remedy measures, contrasting with the EU's aggressive stance against Chinese exports, particularly in the pork and electric vehicle sectors [1][2]. Group 1: Trade Investigations - The anti-dumping investigation into EU pork products was initiated based on applications from the domestic industry in China, with the investigation conducted fairly and in accordance with WTO rules [1]. - In 2023, the EU has initiated 7 original investigations against China, accounting for nearly 40% of its total external investigations, involving approximately $3.5 billion in Chinese exports [2]. Group 2: Trade Remedies and Responses - Currently, there are 95 ongoing trade remedy measures by the EU against China, affecting around $39.3 billion in Chinese exports [2]. - The EU's investigation into electric vehicle subsidies was initiated without any domestic industry application, which China views as an unreasonable and non-compliant use of trade remedy measures [2]. Group 3: Dialogue and Cooperation - China has engaged in over 20 rounds of consultations with the EU, aiming for mutually acceptable solutions and maintaining an open and cooperative stance [2]. - The Ministry of Commerce expresses hope that the EU will recognize industry concerns and work towards creating an open and stable market environment through dialogue [2].

Group 1: Canton Fair Initiatives - The 138th Canton Fair will implement stronger support measures for foreign trade enterprises, continuing the efforts from the 137th Fair which halved booth fees for exhibitors [1] - Over 31,000 companies will participate in the 138th Fair, with all exhibitors eligible for booth fee reductions, benefiting over 5,000 companies for the first time [1] - In addition to a 50% reduction in offline booth fees, new online platform measures will be introduced to assist export companies in expanding international markets [1] Group 2: EU-China Trade Relations - China is responding to the EU's anti-dumping investigation into pork products, initiated at the request of domestic industries, ensuring a fair and objective process [3] - In contrast, the EU has initiated seven anti-dumping investigations against China this year, affecting approximately $3.5 billion in Chinese exports [3] - China emphasizes the importance of dialogue and cooperation in trade relations, advocating for a stable market environment and fair competition [4][8] Group 3: Integrity Promotion Activities - The Ministry of Commerce and 12 other departments are organizing the "Integrity Business Promotion Month," with the theme "Honesty and Trustworthiness Benefits Enterprises and the Public" [6] - This year marks the 21st consecutive year of the campaign, featuring 14 themed activities aimed at promoting integrity and creating a trustworthy business environment [6] Group 4: WTO Fisheries Subsidies Agreement - The WTO Fisheries Subsidies Agreement, effective from September 15, aims to promote sustainable global fisheries management and was a significant achievement for multilateral trade [9][10] - China has ratified the agreement and is committed to fulfilling its obligations, contributing to the sustainable development of global marine resources [10]

Group 1 - The Ministry of Commerce of China has initiated anti-circumvention measures against imported optical fiber products originating from the United States, marking the first anti-circumvention investigation in China [1][3] - The investigation was launched on March 4, 2025, following a request from domestic companies, focusing on single-mode optical fibers with specific cutoff wavelength displacement [1][3] - Evidence indicated that U.S. exporters were circumventing China's anti-dumping measures on non-dispersive single-mode optical fibers by exporting related products [1][3] Group 2 - The anti-circumvention investigation aligns with Chinese laws and WTO rules, aiming to uphold the authority of existing trade remedy measures and ensure their effectiveness [3] - The Ministry of Commerce has collected public opinions on the draft rules for anti-circumvention investigations and plans to further enrich and improve China's trade remedy investigation system [3] - The Ministry emphasizes a cautious approach to implementing trade remedy measures while firmly protecting the legitimate rights and interests of domestic industries [3]

Group 1 - The Ministry of Commerce of China announced its first anti-circumvention investigation ruling, indicating that U.S. exporters were found to be circumventing anti-dumping measures on non-dispersive wavelength-shift single-mode optical fibers by exporting related products to China [1] - The anti-circumvention measures will be implemented starting September 4, 2025, following the investigation initiated on March 4, 2025, at the request of domestic companies [1] - This case is significant as it enriches China's trade remedy investigation tools and aligns with Chinese laws and WTO rules, aiming to maintain the authority of existing trade remedy measures [1] Group 2 - On July 30, 2025, the Ministry of Commerce published a draft of the "Rules for Anti-Circumvention Investigations of Trade Remedy Measures" for public consultation, indicating a commitment to further enhance China's trade remedy investigation system [2] - The Ministry emphasizes a cautious and restrained approach to implementing trade remedy measures while firmly protecting the legitimate rights and interests of domestic industries [2]

Summary of the Conference Call on Beef Cattle Industry Industry Overview - The conference call focused on the beef cattle industry in China, discussing supply, demand, pricing trends, and market adjustments from 2023 to 2025 [1][3][4]. Key Points and Arguments Supply Dynamics - In 2023, the domestic beef supply was relatively loose, but a tightening trend is expected starting in 2025 [1]. - By the end of 2024, the number of beef cattle is projected to decrease by 4.4%, with further declines in early 2025, indicating a trend of capacity reduction [1][4]. - The number of breeding cows is expected to decrease by approximately 3% from January to November 2024, with newborn calves decreasing by about 10%, which may impact future beef production [1][5]. Pricing Trends - Beef prices have shown a slight recovery since March 2025, currently at 69.72 yuan/kg, which is 1.7% higher than the same period last year and close to 2019 levels [1][7]. - The average price for the year is expected to be stable or slightly higher compared to last year, driven by seasonal demand in autumn and winter [9][10]. Market Adjustments - The beef cattle industry is undergoing adjustments due to prolonged price declines, leading many farmers to reduce their scale or exit the market [4][20]. - The capacity reduction trend is expected to continue until the end of 2025 and possibly into 2026, with breeding cow numbers potentially dropping to 5%-6% of peak levels [8][25]. Import and Trade Dynamics - China relies on low-priced imported beef, which accounts for about 27% of its beef supply, with the total impact of low-priced imports nearing 30% [3][15]. - The Ministry of Commerce may implement trade relief measures, such as tariffs or quotas, to protect the domestic industry from the impact of low-priced imports [13][19]. Future Outlook - The beef production supply is anticipated to be affected in the coming years due to the long breeding cycle, with a significant reduction in breeding cows and newborn calves [5][12]. - The international beef supply is expected to tighten due to climate impacts in major beef-producing countries like Brazil and Argentina, leading to increased global beef prices [11][10]. Additional Important Insights - The beef cattle industry has experienced significant price cycles, with notable downturns in 1997-2000 and 2015-2016, and a current downturn since 2023 [21]. - The relationship between beef prices and raw milk prices is relatively weak, indicating that fluctuations in one do not directly affect the other [22]. - The Ministry of Commerce's extension of the investigation into import beef protection measures suggests ongoing challenges in the domestic market and a need for protective policies [19][20]. This summary encapsulates the critical insights from the conference call regarding the beef cattle industry, highlighting supply trends, pricing dynamics, market adjustments, and future outlooks.

Group 1 - The WTO reports a significant increase in global trade affected by new tariffs, estimating the impact on global merchandise trade at $27.327 billion during the review period, which is more than three times the $8.876 billion reported in the previous 12-month period [1][2] - The proportion of world merchandise imports affected by such measures has risen from approximately 12.5% to 19.4% over the past six months, indicating a notable escalation in tariff levels [2][4] - The report highlights that since 2009, many tariff measures have been introduced and have not been retracted, leading to a cumulative increase in their impact on global merchandise imports [4][5] Group 2 - During the review period, a total of 644 trade measures were implemented by WTO members and observers, with 296 being trade remedy measures, marking the highest number of new investigations in over a decade [4][5] - The trade coverage of trade remedy investigations was estimated at $63.9 billion, a decrease from the previous report, while the termination of trade remedy measures involved $16.3 billion, an increase from the previous report [4][5] - The report also notes a decrease in trade facilitation measures, with an estimated trade coverage of $10.386 billion, down from $14.404 billion in the previous report [6] Group 3 - In the services trade sector, 69 new measures were taken by 34 members and 4 observer countries during the review period, representing a significant decrease compared to the same period last year [7] - Despite the challenging global trade environment, these measures reflect a commitment from WTO members to promote services trade, primarily through easing access conditions for service providers [7] - The use of direct support measures has decreased in favor of regulatory tools as trade barriers have risen since April 2025 [7]

Group 1 - The core viewpoint emphasizes China's commitment to cautiously using trade remedy measures and highlights the acceptance of price commitments as a means to resolve trade disputes through dialogue and consultation [1] - The statement expresses hope for enhanced dialogue and communication between China and the EU to jointly address economic and trade differences, thereby creating favorable conditions for strengthening and expanding China-EU economic and trade cooperation [1]