EU plans no retaliation over mainland car probes
European Commission says it is keeping close watch on 'anti-monopoly' campaign that has led to fines and price cuts at top European brands
The European Commission plans no retaliation over China's probe of carmakers that has slapped Europe's biggest marques with fines and demands for price cuts that industry watchers say smack more of protectionism than promoting competition.
In its first official word on what Beijing terms "anti-monopoly" investigations, the European Commission told the South China Morning Post it would follow developments closely and take up issues with Beijing if needed.
German car giants Audi, Mercedes-Benz and BMW were among the first companies named in a series of investigations launched earlier this month into foreign carmakers that have since snagged Chrysler from the United States and Japanese luxury marques Lexus and Infiniti.
"We remain in close contact with EU industry and will not hesitate to take issues up with our Chinese counterparts through the relevant channels wherever warranted," the commission said in response to questions from the Post.
But it stopped short of criticising the probe and said it did not believe that China's anti-monopoly powers were being misused.
"The EU does not believe that the Chinese authorities will use the anti-monopoly law improperly," it said.
The commission's position is in stark contrast to the European Union Chamber of Commerce, which slammed the crackdown in a strongly worded statement issued in Beijing last week.