China airs 'strong dissatisfaction' to WTO over US objection to market economy status: Xinhua

China's Ministry of Commerce has expressed "strong dissatisfaction and firm opposition" to a statement by the United States to the World Trade Organisation.
China's Ministry of Commerce has expressed "strong dissatisfaction and firm opposition" to a statement by the United States to the World Trade Organisation. PHOTO: BLOOMBERG

SHANGHAI (REUTERS) - China's Ministry of Commerce (Mofcom) has expressed "strong dissatisfaction and firm opposition" to a statement by the United States to the World Trade Organisation (WTO) that it opposes granting China market economy status, Xinhua reported.

China has already appealed to the WTO over a similar case, state news agency Xinhua reported the ministry as saying on Saturday (dec 2).

The US and the European Union argue that Beijing's pervasive role in the Chinese economy distorts and prevents market determination of domestic prices.

The strong response from MOFCOM is the latest volley in an increasingly tense trade relationship between Washington and Beijing, as the Trump administration prepares for trade actions and after a Chinese Foreign Ministry spokesman said on Friday that some countries were trying to "skirt their responsibility"under WTO rules.