China's Concern Over EU's Industrial Accelerator Act

The Chinese commerce ministry has issued a stark warning over the European Union's Industrial Accelerator Act, expressing 'grave concern' about the proposed legislation's potential impact on foreign investments.

The contentious IAA seeks to impose stringent restrictions on investments in critical sectors such as electric vehicles, solar PV, and raw materials, prompting China to carefully examine the act's implications and defend its commercial interests.

Accusing the EU of protectionism, Beijing argues that such policies could destabilize global trade and supply chains, casting doubt on the underlying motives of the green transition goals touted by Brussels.