The notion of “overcapacity” in China’s exports is nothing more than a pure fallacy, according to Wang Lingjun, deputy head of the General Administration of Customs. Speaking at a press conference on Monday, Wang addressed recent claims by the U.S. government, asserting that such allegations are unfounded and represent a form of protectionism.
“There is no such thing as overcapacity in China, whether from the perspective of comparative advantage or global market demand,” Wang stated. He highlighted that Chinese manufacturing is widely popular in the global market due to its comprehensive and continuously upgraded industrial system, alongside ongoing investment in research and development and innovation.
Wang emphasized that China’s complete manufacturing supply chain ensures the stability of global production, driving technological advancement and industrial upgrading worldwide. “It is evident and undeniable,” he remarked, underscoring China’s role in supporting global industrial cooperation.
The deputy head criticized the repeated claims by some countries as attempts to suppress and hinder China’s development. “These allegations represent a form of protectionism that seriously undermines global industrial cooperation and supply chain stability,” Wang said. He called for upholding open cooperation and mutual benefit as the correct direction for global economic development.
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China 'overcapacity' claim a pure fallacy, says customs official
cgtn.com
