Beijing, China — China’s Foreign Ministry has called on the Group of Seven (G7) nations to focus on the United States’ overcapacity issues rather than criticizing China’s burgeoning new energy sector. Spokesperson Wang Wenbin responded on Wednesday to remarks made by U.S. Treasury Secretary Janet Yellen, who indicated that Chinese overproduction of green technologies would be a key topic at the upcoming G7 finance ministers meeting.
Wang labeled the U.S. claims of China’s “overcapacity” in the new energy industry as baseless and a deviation from objective facts and economic principles. He argued that such assertions are “essentially protectionism” in disguise.
“According to the logic of the U.S., any excessive export of goods constitutes ‘overcapacity.’ Wouldn’t the United States’ significant exports of soybeans, aircraft, and natural gas also be considered excess capacity?” Wang questioned. “Shouldn’t the G7 finance ministers’ meeting first address these excess capacities of the United States?”
Advancing Global Green Transition
Emphasizing China’s role in the global shift towards sustainable energy, Wang stated that the country’s new energy production capacity represents advanced capabilities vital for driving the world’s green transformation. “This is not surplus capacity but essential advancement,” he said.
Wang highlighted that China’s achievements in the new energy sector result from “long-term technological accumulation and open competition among enterprises,” aligning with market economy principles and fair competition. “Our progress is fought out in full competition rather than supplemented by industrial subsidies,” he added.
Accusations of Protectionism
The spokesperson criticized the U.S. for allegedly coercing G7 members into forming a “protectionist alliance” aimed at restricting China’s new energy products. “In the name of ‘overcapacity,’ the U.S. is attempting to build fences and set restrictions, which is contrary to the trend of openness and mutual benefit,” Wang said. “Such actions will jeopardize consumer welfare in the relevant countries and impede the global green transformation.”
He cautioned that resolving the climate crisis requires global collaboration rather than protectionism. “The U.S. cannot advocate for climate action and ask China to take greater responsibility while hindering our green products from benefiting the world,” Wang asserted.
A Call for Openness and Cooperation
Wang concluded by expressing hope that all nations would “adhere to openness and cooperation, reject protectionism, strive for win-win outcomes, and avoid ‘lose-lose’ situations.”
The G7 finance ministers meeting is set to discuss, among other topics, global economic challenges and sustainable development. China’s remarks signal the importance of inclusive dialogue in addressing these global issues.
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China's Foreign Ministry: G7 should prioritize U.S. overcapacity issue
cgtn.com
