A senior Chinese customs official has dismissed accusations of “overcapacity” in China’s exports, labeling them as a “pure fallacy.”
Wang Lingjun, deputy head of the General Administration of Customs, addressed the issue during a press conference on Monday. Responding to concerns raised by the U.S. government, Wang stated, “There is no such thing as overcapacity in China, whether from the perspective of comparative advantage or global market demand.”
Wang highlighted that Chinese manufacturing remains highly sought after in the global market due to its comprehensive and continually upgraded industrial system. He emphasized the nation’s ongoing investment in research, development, and innovation as key factors driving its manufacturing prowess.
“It is evident and undeniable that the country’s complete manufacturing supply chain ensures the stability of global production,” Wang said. “This drives technological advancement and industrial upgrading worldwide.”
He criticized the repeated claims by certain countries as attempts to suppress and hinder China’s development. “Such protectionism seriously undermines global industrial cooperation and supply chain stability,” Wang added. He called for upholding open cooperation and mutual benefit as the correct direction for global economic development.
China’s stance underscores its commitment to maintaining robust international trade relationships and contributing positively to the global economy.
Reference(s):
China 'overcapacity' claim a pure fallacy, says customs official
cgtn.com
