InfoAnda - China calls US green-tech trade charges 'groundless'

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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World China calls US green-tech trade charges 'groundless' AFP - Sunday, October 17 Send IM Story Print China calls US green-tech trade charges 'groundless' Slideshow: Full Photo Coverage: Business & Economy BEIJING (AFP) - – China on Saturday rejected US allegations that it was engaging in unfair trade practices in the green technology sector, calling the charge "groundless and irresponsible". The statement from the commerce ministry followed an announcement Friday by US trade authorities that a probe had been launched into claims China is handing out huge illegal subsidies in a bid to dominate the sector. The United Steelworkers union had petitioned US trade officials to investigate practices it claims contravene World Trade Organization (WTO) rules and cost American jobs. "The union's complaint is groundless and irresponsible," China's commerce ministry said Saturday in a statement posted on its website. The US union -- one of the nation's largest -- accused China of blocking access to materials used in green technologies, illegally linking subsidies to export sales, curbing imports and demanding that foreign investors hand over technology secrets. It also accused China of providing more than 216 billion dollars' worth of subsidies to green technology makers. It said these amounted to "more than twice as much as the US spent in the sector and nearly half of the total 'green' stimulus spent worldwide," according to a September plea filed by the union. Announcing the investigation, US Trade Representative Ron Kirk vowed to tackle all of the complaints in detail. "We take the USW's claims very seriously, and we are vigorously investigating them," he said. The Chinese statement accused the United States of subsidising up to 2,300 energy-related programmes, including clean-energy projects, making the US criticisms of China "unjustified". Trade tensions have dogged China and the United States over the past year, particularly allegations that China keeps its yuan currency artificially weak to boost its export competitiveness. Figures released on Thursday have further fuelled US concerns about trade imbalances with China. The US Commerce Department said the country's trade deficit with China ballooned to a new record in August. The politically sensitive gap with China expanded eight percent, to 28.0 billion dollars, wiping out the previous record of 27.9 billion dollars set in October 2008. Recommend Send IM Story Print Related Articles US-BUSINESS Summary Reuters - 1 hour 46 minutes ago Venezuela inks oil deal with Belarus Reuters - 1 hour 46 minutes ago Venezuela inks oil deal with Belarus--Chavez Reuters - 1 hour 48 minutes ago RPT-Rosengren-Fed should actively battle deflation risk Reuters - 2 hours 32 minutes ago Total says has halted oil products trade with Iran Reuters - 2 hours 53 minutes ago News Search Top Stories German police evict protestors in station siege Iranian chocolate thief 'to have hand chopped off' French workers pour onto the streets World's longest cable car line opens to Armenia England coach Capello to retire after Euro 2012 More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended NESV seal acrimonious Liverpool takeover Time, like all good things, may come to an end: study Paris airports pipeline cut amid protests: company World's longest tunnel breaks down Swiss Alpine barrier US deficit shrinks but still tops one trillion More Most Viewed » Too much TV psychologically harms kids: study Workers swarm Europe's streets in anti-cuts protests British lottery winner gets record 129 mln euros 'A billion people' go hungry in 2010: report Global marine life census charts vast world beneath the seas More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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