China’s Ministry of Commerce: Opposing certain countries’ protectionist practices in the name of so-called “overcapacity”

China News Service, Beijing, October 10 (Reporter Yin Qianyun) A spokesman for the Ministry of Commerce of China stated on the evening of the 9th that China opposes individual countries' actual trade protectionism in the name of so-called "overcapacity". If relevant economies use this as an excuse in the future to take measures that harm China's interests, China will make necessary responses.

On October 7, Eastern Time, the Office of the U.S. Trade Representative (USTR) announced that the United States had recently convened a meeting of senior officials from 14 economies to jointly sign a ministerial-level joint statement to address the so-called "structural capacity and overproduction" problem. The spokesperson of the Ministry of Commerce made the above statement when answering reporters' questions.

The spokesperson emphasized that China has repeatedly stated its views on the so-called "overcapacity" issue on different occasions, and issued a relevant position paper in July this year.

"China has always believed that we must adopt a comprehensive, objective and fair attitude when looking at production capacity issues, and we must not politicize economic and trade issues out of concerns about our own industrial competitiveness and market status." The spokesperson said that China opposes the practice of trade protectionism by individual countries in the name of so-called "overcapacity". This will only disrupt the global economic and trade order and the stability of the production and supply chain, and bring long-term risks to world economic growth.

The spokesperson said that China insists on building a modern industrial system through open cooperation and supports the establishment of a fair and reasonable international economic order. China calls on all parties concerned to adhere to multilateralism, advocate mutual benefit and win-win results, respect market laws, and jointly maintain an open and inclusive global industry and supply chain cooperation pattern.

On July 28, China’s Ministry of Commerce issued “China’s Position on the So-called “Overcapacity” Issue. It pointed out that large exports and large surpluses do not mean overcapacity. China's export growth stems not only from economies of scale and improvements in innovation capabilities, but also from the needs of green transformation and industrial development in various countries. (over)