China has responded to concerns from some Western countries regarding its industrial overcapacity, emphasizing that the issue should be viewed through the lens of market economy principles.
At a regular press briefing on Wednesday, Lin Jian, spokesperson for the Chinese Foreign Ministry, dismissed assertions that China’s overcapacity negatively impacts the global market as a “false narrative.”
“The so-called China’s overcapacity impact on the global market is a false narrative,” Lin stated. He cautioned that imposing trade protection measures under the pretext of overcapacity would “undermine the stability and smooth flow of production and supply chains,” potentially hindering the green transformation of the global economy and the development of emerging industries.
Lin highlighted that China’s advantages in the new energy industry are a result of “authentic skills and sufficient market competition,” rather than government subsidies. “China always maintains an open attitude toward industrial cooperation,” he said.
He urged relevant countries to “keep an open mind, adhere to fair competition, create an international, market-oriented, and law-based economic and trade cooperation environment.” Lin added that working collaboratively with China would lead to “mutual benefit and win-win results,” promoting economic globalization in a more inclusive direction.
Reference(s):
China: Overcapacity issue should be viewed based on market economy
cgtn.com
