Overcapacity or ‘over anxiety’? China hits back at Western claims of dumping
- State news agency rejects allegations that Chinese EV firms are exporting a glut of electric vehicles
- Accusations reflect anxieties abroad about critics’ own industrial development, it says
“This so-called overcapacity is a sham – ‘over anxiety’ is what it really is,” it said, saying the United States and its allies were using such accusations to contain China’s competitive sectors out of fears for their own industrial development.
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Why the EU, US are concerned about China’s overcapacity
China dominates the world market in EVs, solar panels and lithium batteries, all technologies at the centre of a transition to a greener future.
Beijing regards these industries as new export pillars with enough growth potential to help its economy shift to advanced manufacturing and away from the mass production of traditional, low-value added items such as apparel and home appliances.
Amid an overall export slump, China exported over 1 trillion yuan (US$138 billion) worth of products in these three categories last year, amounting to growth of about 30 per cent from 2022, official data showed.
Anti-subsidy investigations into Chinese EV and wind turbine manufacturers are under way in the European Union while the US also initiated Section 301 probe into China’s maritime, logistics and shipbuilding sectors, areas in which China has gained leverage in the recent years.