Chinese Ambassador Refutes Allegations of Overcapacity in New Energy Sectors

Jun 1, 2024 - 18:39
Jun 1, 2024 - 18:42
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Chinese Ambassador Refutes Allegations of Overcapacity in New Energy Sectors

Chinese Ambassador accredited to Monrovia, Yin Chengwu dismisses claims that China is disrupting International markets, says China Should not be Labeled as ‘Overcapacity.'

Recently, claims have surfaced allegingthat China utilizes government subsidies to artificially create overcapacity in electric vehicles and other new energy sectors, subsequently dumping products overseas at seemingly low prices.

However, a closer examination reveals adifferent narrative altogether Contrary to notions of overcapacity, global demand for new energy products far surpasses current supply levels. With

China leading the charge, projections indicate exponential growth in demand, emphasizing the necessity for increased production.

China's new energy sector isn't reliant on subsidies alone. It boasts robust industrial support and a vast pool of skilled labor, fostering a self-sustaining ecosystem that thrives on innovation and market demand. 

China primarily caters to its domestic market, with exports constituting a fraction of overall production. Allegations of 'ow-price dumping' are debunked, with

evidence showcasing fair pricing practices in international markets. 

Claims of 'overcapacity' serve as a guise to stifle China's progress and unfairly target its burgeoning industries.

Such narratives undermine the collaborative effort needed to address global challenges like climate change Recognizing the urgency of combating climate change, China extends a hand of cooperation to nations like Liberia, offering expertise and resources to foster clean energy development and achieve shared sustainable goals In the words of President Xi Jinping, Inclusiveness, shared benefits, and win-win outcomes are what we should pursue.

China remains committed to global cooperation in the new energy sector, urging others to embrace openness and collaboration for a greener future.

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Daniel Theo Cole Daniel Theophilus Cole is a Senior Reporter at Kool 91.9 FM/TV/Knewsonline. Cole has a keen interest in Human Interest, Political, Economy, and Agricultural Stories. His passion for journalism extends beyond self-interest. Cell#0776762186 Email: [email protected]