Chinese, Spanish commerce ministers' talks involve trade ties, Nexperia, and pork

Chinese Commerce Minister Wang Wentao met with Spanish Minister of Economy, Trade and Business Carlos Cuerpo on Tuesday, having exchanged views on China-Spain and China-EU economic and trade relations. Their talks involved issues such as Nexperia, global semiconductor supply chain and pork, according to a statement published on the website of the Ministry of Commerce (MOFCOM) on Thursday.

During the meeting, Wang said that the Dutch government's improper administrative intervention in the internal affairs of Nexperia has seriously violated the spirit of contract and market principles, and bears primary responsibility for the current chaos in the global semiconductor supply chain.

"China has done a great deal of work to promote the resolution of this case and has actively responded to the urgent calls from the industry by granting export license exemptions for eligible shipments," Wang stressed.

The Commerce Minister also stressed that China will continue to maintain communication with the Dutch side in a rational, professional, and responsible manner. "It is hoped that the Dutch side will act responsibly, turn its verbal statements into concrete actions, revoke the relevant measures as soon as possible, correct erroneous practices, and restore stability to the global semiconductor supply chain," Wang said.

The root cause of the current disruption to the global semiconductor supply chain lies with the Netherlands, said a MOFCOM spokesperson on November 8, adding that "China, in line with its responsible approach to safeguarding the stability and security of the global semiconductor supply chain, announced on November 1 an exemption for eligible related exports."

China has agreed to the Dutch Ministry of Economic Affairs' request to send representatives to China for negotiations, the MOFCOM spokesperson said.

During the Thursday meeting with Wang, Cuerpo said that Spain is willing to communicate with the Dutch side on the Nexperia issue, as stable and smooth global semiconductor supply chains serve the interests of all parties.

"The Spanish government attaches great importance to Spain-China economic and trade relations and is willing to further strengthen dialogue and exchanges with China to expand practical cooperation in trade, investment, and other fields. Spanish companies, especially pork producers, are optimistic about the prospects of the Chinese market and welcome more measures from the Chinese government to expand opening up," said Cuerpo, according to the MOFCOM release.

Wang stated that in recent years, high-level exchanges between China and Spain have been frequent. Under the strategic guidance of the leaders of the two countries, China-Spain economic and trade relations have maintained healthy and stable development, with cooperation continuously enriched.

Wang also said that China welcomes European enterprises, including those from Spain, to increase cooperation with China and share the opportunities in the vast Chinese market.

"The fourth plenary session of the 20th Central Committee of the Communist Party of China (CPC) has outlined a new blueprint for China's social and economic development over the next five years and made important arrangements for expanding high-level opening up to the outside world, demonstrating China's firm determination to adhere to open cooperation and share opportunities and achieve common development with other countries," said Wang.

The meeting was held when King Felipe VI of Spain is on a state visit to China. It marks King Felipe VI's first state visit to the country after his enthronement, and the first visit by a Spanish monarch to China in 18 years, according to the Xinhua News Agency.

Prior to the state visit, MOFCOM and Spain's Ministry of Economy, Trade and Business co-hosted the China-Spain Trade and Investment Matchmaking Event in Madrid on October 9. Over 300 representatives from Chinese and Spanish enterprises and business associations gathered for the event, engaging in vibrant exchanges and active matchmaking sessions, according to MOFCOM.