finance ministry announced that public sector procurement of EU medical devices worth over 45 million yuan ($6.3 million) would now be limitedimports of medical devices from other countries containing more than 50% EU-made components will also face restrictions
The move follows the EU’s decision last month to bar Chinese firms from bidding on public tenders for medical devices worth €60 billion annually, citing a lack of reciprocal access for European companies in China. This was the first use of the EU's International Procurement Instrument, aimed at levelling the playing field in global trade.
China clarified that products from European companies already operating within China will not be affected by the new measures.
China and the EU are due to hold a leaders' summit in China later this month.
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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