Question: Some reports say that China's “overcapacity” may harm the global economy. What's your comment?

Embassy Spokesperson: This is sheer distortion and can not be further from truth. With climate change becoming increasingly severe, the critical challenge facing the world is not overcapacity, but an acute shortage of capacity in the new energy sector, especially in developing countries where the huge demand for new energy products has yet to be met. According to the International Energy Agency estimates, demand for electric vehicle will reach 45 million in 2030, more than three times that of 2023, and demand for the solar capacity will also grow significantly. China's exports of new energy vehicles in 2023 could reduce carbon emission by about 2 million tons per year. The growth of China’s new energy sector, while meeting its high-quality development needs, also meets countries’ need to address energy crisis and respond to climate change, making important contributions to the global green and low-carbon transition.

Some countries are brandishing the stick of protectionism against China’s new energy sector while waving the banner of green development. This is a typical case of double standard and despicable. The massive market demand in new energy is an opportunity for the development of all. We hope that relevant countries can view the global new energy market demand and China’s growing new energy sector objectively, rationally and comprehensively. We stand ready to strengthen communication and coordination with all sides on the basis of market principles to promote industrial cooperation for mutual benefit and win-win results in global green development.