STORY: FM spokesperson refutes western accusation of "overcapacity"
SHOOTING TIME: Recent footage
DATELINE: April 28, 2024
LENGTH: 0:01:32
LOCATION: Beijing
CATEGORY: POLITICS

SHOTLIST:
1. SOUNDBITE (Chinese): WANG WENBIN, Chinese Foreign Ministry spokesperson

STORYLINE:

Some Western countries have lately been accusing China of "overcapacity," which is baseless hype and China firmly rejects it, a Foreign Ministry spokesperson said on Wednesday.

SOUNDBITE (Chinese): WANG WENBIN, Chinese Foreign Ministry spokesperson
"China's new energy sector capacity is advanced and much-needed capacity for green development, not 'overcapacity.' China's green technology and products, especially the growth of new energy industry, meet countries' need to address the energy crisis and respond to climate change and will make an important contribution to the global green and low-carbon transition.
The rapid growth of China's new energy industry is determined by the laws of economics and market factors, not subsidies. China's new energy products are competitive because they started out early and have kept investing in its R&D. Hence a leading edge in technology. Combined with China's vast range of supporting industries, mega-size markets and rich human resources, that leading edge becomes integrated competitiveness.
According to Bloomberg analysis, in the EV sector, the capacity usage rates of the majority of China's leading auto exporters are considered normal; the ratio of exports to production is far lower than other car producing nations such as Germany, Japan and the Republic of Korea; and Chinese companies aren't dumping EVs on global markets, for the export prices of those cars reflect the laws of the market.
The 'overcapacity' rhetoric is just an excuse for protectionism. Limiting the export of China's new energy products, such as electric vehicles, will make everybody lose."

Xinhua News Agency correspondents reporting from Beijing.
(XHTV)