China is leveraging its surplus industrial capacity to aid developing countries in achieving a green transition, as exports to the U.S. and Europe face challenges, according to Huang Yiping, dean of the National School of Development at Peking University. In line with this, China plans to gradually lift restrictions on the purchase of new-energy vehicles in various regions, as part of a decarbonization action plan announced on Wednesday. This move is expected to boost the new-energy vehicle industry and counter claims of overcapacity. Critics argue that China's export practices, including subsidies, harm other economies. Chinese officials and experts counter that such claims are misleading and could hinder the global green transition. They suggest that the U.S. is concerned about the growing strength of China's electric vehicle industry. China Daily noted that China subsidizes exports while minimizing imports.
Industry insiders and experts believe that the real motive behind the hype about the "overcapacity" claims targeting China is that the United States finds it hard to face the growing strength of the Chinese EV industry. #AIGCFootage https://t.co/tFyDR0eYpf
Chinese ambassador to the US said that at a time when the world is facing a severe shortage of green energy capacity and numerous challenges in global energy transition, smearing China's green products as "overcapacity" under the guise of competition and promoting protectionism… https://t.co/vJ9dQsALa8
The false narratives about China's "overcapacity" disregard fact and economic principles and could jeopardize the global green transition, experts said. https://t.co/cKaIGyKKtI
"According to the 'overcapacity' rhetoric," says China Daily, "China has exported many new energy products at low prices, hurting other economies." That's a little dishonest. The complaint is that China subsidizes exports while minimizing imports. https://t.co/4Q0rI49pQ2
#China will gradually lift restrictions on the purchase of new-energy vehicles in various regions, according to a decarbonization action plan released on Wednesday, which is set to offer another major boost to the industry and effectively debunk the so-called "overcapacity"… https://t.co/UC8Xp1NNfX
China can use its surplus industrial capacity to help developing countries achieve a green transition, at a time when exports to the U.S. and Europe are being stymied, said Huang Yiping, dean of the National School of Development at Peking University. https://t.co/uI8CoOmQhu