BEIJING, Nov. 1 (Xinhua) -- China's Ministry of Commerce (MOC) said on Friday that it hoped the new phase of talks on price commitment with the European Union (EU) regarding the latter's anti-subsidy probe into China-made electric vehicles (EV) will reach a mutually acceptable solution.

 

In a statement, the MOC said that the technical teams of China and the EU have immediately launched a new phase of consultations on price commitment following a discussion held via video link on Oct. 25 between Chinese Commerce Minister Wang Wentao and European Commission Executive Vice President and Trade Commissioner Valdis Dombrovskis.

 

After intensive communication, the EU side indicated that it will be in China to continue consultations on the specific contents of the plan, the MOC said.

 

"China welcomes this and hopes that the next phase of consultations will follow the principle of pragmatism and balance to reach a solution acceptable to both sides," the MOC said.

 

On Oct. 29, the EU said it had decided to impose definitive countervailing duties of up to 35.3 percent on EVs from China for a period of five years.