China and the European Union have agreed to provide general guidance on price undertakings — commitments to maintain minimum prices — for Chinese exporters of battery electric vehicles to the bloc, the Ministry of Commerce said on Monday.

This move will enable Chinese exporters to address the EU's anti-subsidy case concerning Chinese EVs in a way that is more practical, targeted, and consistent with WTO rules, the ministry said.

To this end, the EU will issue a guidance document on the submission of price undertaking offers, in which the EU acknowledges that it will assess each price undertaking offer against the same legal criteria in an objective and fair manner, following the principle of non-discrimination and in accordance with relevant WTO rules, the ministry said.

It shows that both China and the EU have the ability and willingness to properly resolve differences through dialogue and consultation under the framework of WTO rules and maintain the stability of automotive industrial and supply chains in China, the EU, and the whole world, the ministry said.

This is conducive not only to ensuring the healthy development of China-EU economic and trade relations, but also to safeguarding the rules-based international trade order, the ministry added.