Update: Popularity of China's new energy products not due to subsidies: spokesperson-Xinhua

Update: Popularity of China's new energy products not due to subsidies: spokesperson

Source: Xinhua

Editor: huaxia

2024-05-16 19:16:17

People view a new energy vehicle of Bestune at an auto show in Xi'an, northwest China's Shaanxi Province, May 1, 2024. (Xinhua/Zhang Bowen)

BEIJING, May 16 (Xinhua) -- The popularity of China's new energy products in the global market is the result of long-term efforts by Chinese companies rather than government subsidies, He Yadong, spokesperson for the Ministry of Commerce, said Thursday.

Chinese companies have been conducting R&D investment in the new energy sector for more than two decades. Through fierce market competition, they have formed unique advantages, He told a regular press conference.

"China's new energy market is fully competitive, which results in the 'survival of the fittest' and the continuous emergence of high-quality enterprises and products," he said.

With regard to industrial subsidy policies, the spokesperson said such practices originated from the West, and are widely adopted by countries all over the world.

China's industrial subsidy policies abide by the WTO rules and adhere to the principles of fairness, transparency and non-discrimination, He continued, adding that all enterprises operating in China can enjoy the same benefits.

By contrast, the United States and Europe have significantly hiked subsidies in recent years, and introduced a large number of exclusive and discriminatory practices, which set up obstacles for Chinese products to enter their markets, He said.

"These are typical protectionist practices and violate the basic principles of the WTO," He said.

China's high-quality new energy products have enriched the global supply, promoted the green and low-carbon process, and helped achieve the goals of the Paris Agreement, the spokesperson said.

It is estimated that each new energy vehicle cuts carbon emissions by around 1.66 tonnes per year. China exported 1.2 million new energy vehicles in 2023, which will help reduce carbon emissions by about 2 million tonnes annually.

"China's new energy products are a contribution, rather than a threat, to the world," He continued, adding that China's affordable and quality new energy products help ease global inflationary pressures.

"In a nutshell, China's new energy industry has accelerated the global green transformation, promoted technological and industrial progress, and improved the well-being of consumers in various countries," He said. 


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