China's decision to launch an anti-dumping and anti-subsidy probe into wine imports from the European Union signals the country will safeguard its major economic interests - and it has ample cards in hand to do so.

The Ministry of Commerce said that it has started the probe at the request of local wine producers. It comes after the EU decided on Tuesday to impose an initial tariff of 11.8 percent on imports of solar panels, cells and wafers from China.

If the two sides do not reach an agreement in August, the tariff will be increased to more than 47 percent on average.