Business Insiders Applaud WTO's Ruling on EU-China Trade Dispute
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Chinese business insiders have applauded the WTO's ruling over the European Union's tariffs imposed on Chinese fastener products.

On Monday, a panel of the WTO released a final report, ruling that the European Union's anti-dumping measures violated the organisation's terms.

Wang Guiqing, vice president of a chamber of commerce on machinery and electronic trade, said that many Chinese companies were forced out of the market due to the anti-dumping duties.

"Chinese exports of fastener products to the E.U. dropped from 1 billion in 2008 to 80 million U.S. dollars in 2014, declining more than 12 times. Many relevant Chinese companies shut down or went bankrupt. So far, most Chinese companies producing fastener products have been forced out of the E.U. market."

A senior official from the Chinese Ministry of Commerce said the ruling protects the reasonable rights of Chinese fastener makers, and will also help maintain fair trade orders among WTO members.

Author： 　　　Source：xinhua　　　 Editor：Yang Fan