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Wang Wenbin, spokesperson of China's Foreign Ministry Photo: cnsphoto

The world is clear about the US’ so-called overcapacity concerns on Chinese new-energy products, a Chinese Foreign Ministry spokesperson said on Wednesday.

The increase in exports of Chinese electric vehicles, lithium batteries and photovoltaic products is the result of the global labor division and market demand, and has contributed to the green development of the world, FM spokesperson Wang Wenbin said at a routine press conference on Wednesday, in response to a question of possible Chinese response to US crackdown on the Chinese high-tech sectors. 

“It is quite clear to all whether it is ‘excess production capacity’ that the US is truly concerned about. As for who is engaged in non-market practices, the fact is there for all to see,” Wang said, noting that a string of US measures to suppress China’s trade and technology development is typical non-market practices.

The US’ relentless crackdown on China in trade and high-tech sectors is not "de-risking," but creating risks, Wang reiterated.

The comments came after the presidents of two countries spoke over phone on Tuesday. During the conversation, the Chinese leader told his US counterpart that China is not going to sit back and watch if the US remains adamant when it comes to containing China's high-tech development and depriving China of its legitimate right to development, according to Xinhua.

Commenting on US Treasury Secretary Janet Yellen’s visit China from April 4 to 9, Wang said that the nature of China-US economic ties are rooted in the common interests of the two countries and are mutually beneficial in nature. 

“It is hoped that the US side will work with China in the same direction, properly handle differences, build up consensus, deepen cooperation for the steady growth of China-US trade and economic ties,” Wang said.

According to Reuters, a US Treasury official told reporters that Yellen during her upcoming China trip would "make clear the global economic consequences of Chinese industrial overcapacity undercutting manufacturers in the US and firms around the world."

Commenting on media reports that the US is asking South Korea to implement exports control measures on semiconductor exports to China in the same fashion as the US, Wang said trade and technology cooperation between countries should be conducive to keeping the global industrial and supply chains stable and unimpeded and to upholding the free and open international trade order, and such cooperation should not target any third party or harm the interests of any third party.

It is hoped that the South Korean side will formulate independent decisions and join others in safeguard the open, transparent, inclusive and non-discriminatory multilateral trading system centered on the WTO, and jointly oppose turning economic issues into political or security issues.

Global Times