Chinese Train Maker Withdraws From Bulgaria Tender After EU Probe
www.barrons.com
Chinese rail giant CRRC has withdrawn from a tendered project in Bulgaria after the EU last month launched a probe into it over suspected subsidies, the European Commission said on Tuesday.

Brussels had announced the probe on February 16, with EU internal market commissioner Thierry Breton at the time saying CRRC Qingdao Sifang Locomotive was thought to have relied on subsidies to “submit an unduly advantageous offer” to try to win the tender for electric trains in Bulgaria.

EU internal market commissioner Thierry Breton said that Europe’s single market remained open “for firms that are truly competitive and play fair” but that Brussels will take “all necessary measures to preserve Europe’s economic security and competitiveness”.

  • MrMakabar@feddit.deEnglish
    0·
    6 months ago

    The EU just looked into the potential for dumping. They were not finished with the process and therefore did not punish CRRC at all.

    Also China is not that poor. GDP per capita is only a third less then that of Romania.