On Monday (local time), three of the judge representatives of the World Trade Organization (WTO) announced that China decided to terminate the litigation on the market economy status case.

The Chinese government decided to initiate a dispute to the US and the EU in December 2016. According to the terms of the WTO accession in 2001, every country needed to admit China's economic status within 15 years, which could be more conducive to the Chinese government facing any international trade litigation in the future.

However, the US and the EU believed that the Chinese government offered lots of subsidies to their oversupply's products, especially steel and aluminum, which seriously affected global market prices in an unfair manner.

Since many of the rulings made before were unfavorable to Beijing, the Chinese government chose to withdraw the complaint before the official results were announced.