China's Ministry of Commerce has strongly rejected allegations of overcapacity in its burgeoning new energy sector. He Yadong, a spokesperson for the ministry, emphasized on Thursday that such claims are \"contrary to common sense\" and completely groundless.
He highlighted that the global new energy industry is still in its infancy, experiencing rapid growth and facing relatively insufficient production capacity. Contrary to the overcapacity narrative, He asserted that the demand for new energy products is set to continue expanding.
As green and low-carbon industries become mainstream, the push towards a global green transformation is driving sustained demand for new energy solutions. This trend underscores the essential role of new energy in the future economic landscape.
He also pointed out that international trade practices foster division of labor and cooperation based on comparative advantages. This collaborative approach not only enhances efficiency but also contributes to the overall well-being of the global economy.
Reference(s):
cgtn.com
