Chinese-built bikes now attract a 48.5 percent tariff, a ruling effective through until 2010.
The China Daily newspaper reports that Giant and two other companies have lodged an appeal with the European Commission.
The newspaper also reports that the China Bicycle Association is urging Chinese bicycle factories to improve industrial standards.
"Enterprises should avoid unfair pricing practices to guarantee the sustainable development of the whole industry," said Hu Xiaofeng of the CBA.
There should also be more inward investment in R&D and compliance with 'international guidelines', said Xiaofeng.