He Yadong: Friends from the press, good afternoon. Welcome to the regular press conference of the Ministry of Commerce. I have no briefing to make today. Now I would like to take your questions.

The floor is open.

The Cover: Since early 2025, MOFCOM, together with other departments, unveiled policies to expand the trade-in scheme for consumer goods. How’s the results? What are the creative practices of different localities?

He Yadong: Since the beginning of this year, the Ministry of Commerce, together with various regions and relevant departments, has intensified efforts to expand the trade-in scheme for consumer goods, so that it can benefit people as soon as possible. As of 24:00 February 19, 169,000 vehicles had been scrapped and renewed nationwide; more than 3.97 million consumers had purchased more than 4.87 million household appliances under 12 categories; more than 26.71 million consumers had applied for subsidies for mobile phones, tablets and smart watches (wristbands); 647,000 electric bicycles had been replaced. Thanks to the new policy, the related industries have maintained rapid growth. Since the beginning of this year, the number of recycled scrapped cars has increased by about 35% year-on-year, and the retail sales of new energy passenger vehicles has grown by more than 20% year-on-year.

In this process, different localities have adapted to local conditions and come up with good practices. For example, Hebei province established a cross-departmental mechanism for exchanging old electric bicycles for new ones, and provides "one-stop service" for the de-registration of old cars, battery recycling, and licensing of new cars. Zhejiang provinces gave prefectural and municipal governments the authority to increase subsidized categories, creating a "12+N" system for replacing old household appliances to meet the diversified needs of consumers. Guangxi province opened online registration channel to allow businesses to apply for the trade-in subsidies through government Wechat accounts, without the need to visit government offices in person.

In the next step, the Ministry of Commerce will continue to optimize the work process, strengthen reform and empowerment, promote publicity, so that the trade-in scheme can deliver greater results. Thank you.

Shenzhen TV: US President Donald Trump signed a memorandum on February 13, requiring relevant departments to determine "reciprocal tariffs" with each foreign trading partner. What is your comment? Is China ready to respond?

He Yadong: China has noted the recent announcement by the US that it intends to impose so-called reciprocal tariffs on all of its trading partners. China is deeply concerned about this development.

International trade is based on each country's resource endowment and comparative advantages, and can effectively drive global economy and improve the well-being of people in all countries. With the belief that it has been taken advantage of in international trade, the U.S. wants to raise tariffs on all its trading partners through so-called reciprocal tariffs. This is a typical unilateralist and protectionist action that violates WTO rules, in disregard of the negotiated balance of interests under the multilateral trading system over the past 80 years and the fact that the US has long benefited from international trade.

Should they proceed with the reciprocal tariffs, they will seriously undermine the multilateral trading system based on most-favoured-nation treatment and other rules, disrupt global supply chains, and bring great uncertainties to normal international economic and trade activities. Many countries have expressed unequivocal opposition. China urges the US to refrain from wielding the tariffs stick to coerce other countries. Trade wars lead to nowhere and produce no winners. It’s important that the US correct its wrong practices and work with other countries to find a solution through equal-footed consultations. Thank you.

Market News International: Recently, the Ministry of Commerce held a conference with the European Automobile Manufacturers’ Association. What measures will be taken to achieve an agreement regarding tariffs on electric vehicles? What does the Ministry of Commerce think of the prospects of China-EU trade and business relations? Is there a chance to restart the China-EU Comprehensive Agreement on Investment?

He Yadong: The EU’s anti-subsidy investigation into Chinese electric vehicles has received widespread attention from China and the EU. On February 14, the President of the European Automobile Manufacturers’ Association Ola Källenius held a video conference with Minister Wang Wentao, reiterating the EU automotive industry’s support and expectation for both sides to resolve differences through dialogue and consultation as early as possible. The Chinese side has been making its utmost efforts to promote dialogue and consultation, and it is hoped that the EU could listen to the voices of the industry and take concrete actions to meet China halfway. In the spirit of pragmatism and balance, both sides should give due consideration to the reasonable concerns of the other, and work together to achieve outcomes through consultation.

China and the EU have always been mutually important economic and trade partners, and their economic and trade cooperation features complementary advantages, mutual benefits and win-win outcomes, forming robust economic coexistence. This year marks the 50th anniversary of the establishment of diplomatic relations between China and the EU. Recently, President Xi Jinping had a telephone conversation with the President of the European Council Costa, providing political guidance for China-EU economic and trade cooperation. China is willing to work with the EU to implement the important consensus reached by leaders of both sides, jointly expand opening up, explore green industry cooperation including electric vehicles, properly handle economic and trade frictions through dialogue and consultation and promote the quality and level of bilateral investment and cooperation. Thank you.

Reuters: What is the progress of China-EU negotiations regarding electric vehicles and anti-dumping and anti-subsidy investigations into pork and dairy products? When will the next round of China-EU consultations be held? Whether an agreement has been reached on the minimum price undertaking for electric vehicles?

He Yadong: Regarding China-EU consultations on electric vehicles, I have already answered that question. The anti-dumping investigation into pork and the anti-subsidy investigation into dairy products are currently underway. We conduct our investigations in accordance with relevant Chinese laws and regulations and WTO rules, ensuring transparency and fully safeguarding the rights of all stakeholders. Thank you.