BEIJING: The so-called “overcapacity” in China’s exports is pure fallacy, said a Chinese customs official on Monday.
There is no such thing as overcapacity in China, whether from the perspective of comparative advantage or global market demand, Wang Lingjun, deputy head of the General Administration of Customs, told a press conference when addressing the question about the U.S. government’s claim of overcapacity in Chinese exports.
Chinese manufacturing, which is widely popular in the global market, relies on a comprehensive and continuously upgraded industrial system, as well as ongoing investment in research and development and innovation, Wang noted.
It is evident and undeniable that the country’s complete manufacturing supply chain ensures the stability of global production, driving technological advancement and industrial upgrading worldwide, said the official.
The repeated claims by some countries are essentially an attempt to suppress and hinder China’s development, representing a form of protectionism that seriously undermines global industrial cooperation and supply chain stability, Wang said, adding that upholding open cooperation and mutual benefit is the correct direction for global economic development.
