China is willing to continue dialogue with the European Union (EU) and foster an open and stable market environment for industrial development on both sides, a spokesperson for China's Ministry of Commerce said on Thursday.

He Yadong made the remarks in response to a media inquiry regarding the European Commission's approval to exempt tariffs on a China-made SUV under the Volkswagen brand during a regular press conference. The vehicle will now be imported based on a minimum price and quota model.

He said that after several rounds of negotiations between China and the EU, both parties reached an agreement within the framework of World Trade Organization rules, resulting in a "soft landing" for the electric vehicle (EV) case. He added  that the agreement has been widely welcomed by the international community and industries in both China and the EU.

In accordance with the agreement, both China and the EU support Chinese EV manufacturers in leveraging price undertakings, with the EU releasing a guiding document following the negotiations and committing to an impartial, non-discriminatory evaluation process, the spokesperson said.

Highlighting the deep integration and mutually beneficial relationship between China and the EU's automotive industries, He expressed hope that the EU would implement the important consensus reached during bilateral leadership meetings and the outcomes of the negotiations.

The spokesperson also said that China looks forward to more Chinese companies reaching agreements on price undertakings with the EU.