'China overcapacity' narrative to impact global recovery, green transition: Commerce ministry

Release time：2024-05-19 22:30:33 Source：Global Glimpse news portal

The so-called "China overcapacity" accusation made by some Western countries essentially stems from their concerns about their own competitiveness and market share, and this approach will dampen global economic recovery and the green transition, a spokesperson for the Ministry of Commerce said on Thursday.

Some countries impose restrictions on the export of Chinese goods and relevant investment and cooperation in the name of overcapacity, spokesperson He Yadong told a press conference, noting that such intervention and fragmentation of the global market will inevitably hurt new energy production and supply chains.

He said that on the one hand, Europe and the United States hold high the goals of addressing climate change and require China to take more responsibility, while on the other hand, they roll out protectionism in the green industries and hinder the free flow of China's green products. "Such 'double standards' in the green sector will undermine cooperation in tackling climate change," said He.

The spokesperson called for respecting laws and facts on the issue of production capacity, and taking an objective, comprehensive and long-term view.

Against the backdrop of economic globalization, supply-and-demand issues should be addressed from a global perspective, He said.

"It cannot be labeled 'overcapacity' simply because a country's production capacity exceeds its domestic demand," he added.

Many developed countries have exported a large number of goods to the world for a long time, and it cannot be said that their exports are reasonable while the exports of China's new energy products are excessive, the spokesperson said.

"Relevant countries should immediately stop containing China's new energy industry in the name of overcapacity," he said, noting that China will take solid measures to safeguard its legitimate rights and interests while continuing to promote opening up and cooperation.

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