Chinese Foreign Ministry spokesperson Guo Jiakun

 
China's new energy production capacity can fill the "green gap" in the world, and it is a contribution to the green development, not "overcapacity," a spokesperson of Chinese Foreign Ministry, said on Friday.  

Foreign Ministry Spokesperson Guo Jiakun made the remarks on Friday at a regular press conference when asked to comment on how China assesses the 25th China-EU Summit held on Thursday, and if there has been any progress regarding what the EU leaders said that they would continue to express concerns about issues such as economic and trade rebalancing before the meeting. 

The so-called "China's overcapacity" is essentially a one-sided understanding of the market supply and demand relationship in the context of economic globalization, and is an excuse for protectionist measures, Guo said.

As with any bilateral relationship, there are of course some differences between China and the EU. With regard to the economic and trade issues of concern to the EU, China has fully, patiently, deeply and meticulously stated its position on the relevant issues in a friendly, respectful and frank manner. China emphasizes that the essence of China-EU economic and trade relations is complementary advantages, mutual benefit and win-win results, and it should and can fully achieve a dynamic balance in the development, Guo said.

China is committed to achieving sustainable and balanced development of China-EU trade and is willing to import more marketable high-quality European products. The EU should relax export restrictions on high-tech products to China, Guo added. 

China stressed that whether there is overcapacity should be viewed from a global perspective and judged by the market. Taking the new energy vehicle (NEV) industry as an example, the International Energy Agency estimates that the global gap in NEVs will reach 27 million vehicles in 2030. China's new energy production capacity is advanced production capacity that can fill the world's "green gap," Guo noted.

China reiterates that China's industrial subsidy policy adheres to the principles of openness, fairness and compliance, and strictly follows WTO rules. From a global perspective, industrial subsidy policies are adopted across countries, Guo noted.   

Guo said the EU itself has also provided substantial subsidies for the development of related industries, and should not pursue a "double standard" on the issue of industrial subsidies. 

Global Times