China Appeals to EU to Reconsider Rejection of Market Economy Status

[papau]

http://ap.tbo.com/ap/breaking/MGBVOYW22WD.html

China Appeals to EU to Reconsider Rejection of Market Economy Status
The Associated Press

BEIJING (AP) - The Chinese government appealed Tuesday to the European Union to reconsider its rejection of China's request to be recognized as a market economy, saying such status would help both sides. <snip>

China has been lobbying for market status because it would strengthen its position when its exporters are accused of selling products below fair market prices.

The private sector makes up "a considerable part of the national economy" in China, Zhang said. "Some statistics show that the prices of 90 percent of goods are set by the market."

China still must make progress in "state interference" in the economy, corporate and banking law and its financial sector before the EU would grant market economy status, an EU spokeswoman said Monday.