China's auto body says it strongly opposes EU's Industrial Accelerator Act

​China's auto ​industry ‌body on Friday expressed "serious ​concern, strong dissatisfaction and firm ‌opposition" to the EU's Industrial Accelerator Act (IAA), criticising it of discriminatory ‌provisions targeting foreign firms, including ‌in EV and batteries.

The China Association of Automobile Manufacturers (CAAM) "calls on ⁠the ​European ⁠side to carefully assess the impact ⁠of relevant provisions on China-EU industrial ​cooperation," according to a statement on ⁠its social media account.

The European ⁠Commission ​proposed the act in March but it ⁠has not yet been adopted and remains ⁠under ⁠negotiation.