BEIJING: China said on Thursday (May 16) that US and European assertions of excess capacity were "naked trade protectionism" and that efforts to constrain new energy exports from the World's No 2 economy would frustrate global efforts to tackle climate change.
Employees work on a production line manufacturing mechanical parts at a factory of SMC Corporation, during an organised media tour, in Beijing, China, on Jan 10, 2023. BEIJING: China said on Thursday that US and European assertions of excess capacity were"naked trade protectionism" and that efforts to constrain new energy exports from the World's No 2 economy would frustrate global efforts to tackle climate change.
"A country cannot be labelled as having excess capacity just because it has more capacity than it needs," He Yadong, a Commerce Ministry spokesperson said. "Production and consumption are global, and supply and demand need to match and be adjusted according to a global perspective.""Demand for new energy products will continue to expand in this global green transformation," He said, comparing China's dominance in green technologies to Boeing and Airbus' duopoly in the global aviation market. He asserted that global NEV sales needed to increase if the international community is to achieve carbon neutrality by 2030.
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