China Opposes Protectionist Measures Under Claims of Overcapacity

According to a report from the People Daily, the Ministry of Commerce stated that China opposes individual nations using the pretext of overcapacity to engage in trade protectionism. Such actions disrupt global economic order and supply chain stability, creating long-term risks for the growth of the entire world economy today. A reporter inquired about a recent announcement from the United States Trade Representative office. The office stated that the United States gathered senior officials from fourteen different economies to hold a meeting. These participants signed and released a joint ministerial statement addressing issues regarding structural production and industrial overcapacity concerns. The spokesperson noted that the government is aware of the situation. China has clarified its views on the issue of so-called overcapacity on various occasions in the past. Furthermore, the nation released a formal position paper regarding this specific topic during the month of July earlier this current year. The spokesperson stated that China believes capacity issues require an objective and fair perspective. Nations should not politicize economic matters due to concerns about their own industrial competitiveness. If relevant economies use this as an excuse to harm Chinese interests, the country will take necessary measures to provide responses.