STORY: The fallacious, dangerous logic of "Chinese overcapacity" rhetoric
SHOOTING DATE: May 20, 2024
DATELINE: May 20, 2024
LENGTH: 00:02:33
LOCATION: Beijing
CATEGORY: ECONOMY

SHOTLIST:
1. SOUNDBITE 1 (Chinese): DING WEISHUN, Official of the Ministry of Commerce
2. SOUNDBITE 2 (Chinese): HE HAILIN, Official of the Ministry of Industry and Information Technology
3. SOUNDBITE 3 (Chinese): QU FENGJIE, Researcher with the Academy of Macroeconomic Research under the NDRC
4. SOUNDBITE 4 (Chinese): HUO FUPENG, Official of the National Development and Reform Commission (NDRC)

STORYLINE:

China's booming new energy vehicle (NEV) sector recently drew scrutiny for purported "Chinese overcapacity" rhetoric from certain Western nations.

To provide clarity on the industry's landscape to a global audience, three government officials and an industry expert joined the fifth episode of the China Economic Roundtable, an all-media talk platform hosted by Xinhua News Agency.

They elucidated why such assertions lack merit, outlined the significance of Chinese NEVs in the global shift towards sustainability, and disclosed the political underpinnings of Western containment strategies and protectionist measures.

SOUNDBITE 1 (Chinese): DING WEISHUN, Official of the Ministry of Commerce
The popularity of China's new energy products worldwide primarily stems from their unique advantages and high cost-effectiveness, which have brought convenience and benefits to people in many countries and also meet the demands of the global market. I believe that the international competitive edge of China's new energy industry is the result of the long-term hard work and innovative development of Chinese enterprises, forged amid intense market competition.

SOUNDBITE 2 (Chinese): HE HAILIN, Official of the Ministry of Industry and Information Technology
"Under a market economy, supply and demand are subject to constant fluctuations. The supply-demand balance is always relative, with imbalances often being the norm. Simultaneously, we are dealing with a global market and industrial structure characterized by division of labor and cooperation. Whether it's supply or demand, both should be viewed from a global perspective."

SOUNDBITE 3 (Chinese): QU FENGJIE, Researcher with the Academy of Macroeconomic Research under the NDRC
"In international trade, countries leverage their respective comparative advantages and participate in international division of labor. I believe that China's large exports of household appliances, furniture, electronic devices, and new energy vehicles, as well as the United States' significant exports of aerospace products, automobiles, semiconductors, and medical equipment, both manifest their respective comparative advantages. Therefore, the current hype over so-called "overcapacity" in China is evidently a double standard behavior."

SOUNDBITE 4 (Chinese): HUO FUPENG, Official of the National Development and Reform Commission (NDRC)
"The so-called "overcapacity" in China's new energy industry and the implementation of trade protectionist measures, not only hinder global trade and economic growth but also bring more harm than benefits to the countries practicing trade protectionism themselves. Therefore, we believe that relevant countries should fully respect the laws of industries and market rules, respect the existing status quo and related rules of international industrial division of labor, and rationally and objectively look at the matter of industrial capacity. We should steadfastly promote the liberalization and facilitation of trade and investment, and only through strengthened cooperation can we achieve common development."

Xinhua News Agency correspondents reporting from Beijing.
(XHTV)