BEIJING, Dec 28, 2024 (BSS/AFP) - China's commerce ministry on Friday
launched an investigation into imported beef at the request of
representatives from its struggling domestic industry, it said.

The local price of beef in China has trended downwards in recent years, with
analysts blaming oversupply and a lack of demand as the world's second
largest economy has slowed.

At the same time imports have surged, with China representing a hugely
important market for countries like Brazil, Argentina and Australia.

The application for an investigation from domestic associations said that a
sharp increase in beef imports in recent years "has had a significant adverse
impact on the domestic industry", the commerce ministry said in a statement.

Beef imports in 2023 were 65 percent higher than in 2019, it quoted the
producers as saying.

The investigation takes effect from Friday and should take eight months, but
"may be extended appropriately under special circumstances", the announcement
said.

Normal trade will not be affected during the investigation period.

Brazil, the world's biggest beef exporter, said it "will seek to demonstrate
that Brazilian beef exported to China does not cause any type of harm to the
Chinese industry, and is, on the contrary, an important factor in
complementing local Chinese production."

Its foreign ministry noted that, "in principle, no preliminary measures will
be adopted, and the 12 percent 'ad valorem' tariff that China applies to beef
imports will remain in force."

Brazil's statement said that China, its main trading partner, this year
received more than one million tonnes of Brazilian beef, a 12.7 percent
increase over last year.

It added that it was committed to defending Brazil's agribusiness sector and
was "always seeking constructive dialogue in search of mutually beneficial
solutions" with China.