The Chinese Ministry of Commerce has dismissed allegations of overcapacity in the nation’s new energy sector as unfounded. Spokesperson He Yadong addressed the issue at a regular press conference on Thursday, stating that such claims are “contrary to common sense” and “completely groundless and untenable.”
He emphasized that the global new energy industry is still in its nascent stages, experiencing rapid growth and development. “Instead of overcapacity, the production capacity of the industry is relatively insufficient,” He noted. The spokesperson underscored the burgeoning global demand for new energy products, driven by the mainstream adoption of green and low-carbon industries amid the global green transformation.
Highlighting the importance of international cooperation, He pointed out that international trade practices encourage countries to engage in division of labor based on their comparative advantages. “This approach effectively enhances the efficiency and well-being of the global economy,” he said. By collaborating in the new energy sector, nations can accelerate technological advancements and promote sustainable economic growth worldwide.
The Chinese mainland remains committed to fostering international partnerships and contributing to the global green transition. As demand for renewable energy technologies continues to rise, China’s role in the industry is poised to expand, offering significant opportunities for businesses, investors, and researchers worldwide.
Reference(s):
cgtn.com
