WTO suspends litigation over China "market economy" status at Beijing's request

The World Trade Organization has suspended litigation in a dispute over China's status as a market economy at Beijing's request, the panel of three adjudicators said in a statement published on Monday.

China went to the WTO in December 2016, accusing the European Union and the United States of breaking a promise to take Chinese prices at face value and treat China as a "market economy". It only pursued the case against the EU, but asked to suspend proceedings on May 7, the panel said.