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China Slams OECD Report On Huge Market Subsidies

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China criticized an OECD report that claimed the country had an unfair advantage when it comes to state subsidies.

The report from the OECD, or the Organisation for Economic Cooperation and Development, said Beijing's support for Chinese firms across 15 key industries was three to eight times higher than the support levels found within OECD member nations.

During a Thursday press conference, a spokesperson from the Ministry of Commerce said the report lacked "unified measurement standards" and is biased, one-sided, and arbitrary.

"China's industrial subsidy policies strictly adhere to WTO rules and earnestly fulfill its transparency obligations," the spokesperson said.

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