The Ministry of Commerce of the People’s Republic of China
This document outlines the People’s Republic of China's perspective regarding the so-called excess capacity issue within the context of global economic development. The objective is to provide a comprehensive analysis of global capacity and promote a more objective understanding of excess capacity from various economic and industrial viewpoints. The methodology employed includes evaluating the relationship between industrial subsidies, trade surpluses, economic imbalances, and market competition alongside examining China's commitments to fostering a modern industrial system through openness and cooperation. The results highlight the importance of viewing the excess capacity phenomenon through a lens of objective economic laws, stressing that cooperation, rather than confrontation, is essential. The document asserts that all nations must engage collaboratively to optimize resource allocation and foster sustainable development in global industries, emphasizing China's readiness to participate in defending free trade and enhancing global economic governance. It concludes that interconnectedness and cooperation are vital for mutual prosperity and that isolation can hinder economic growth.
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