Experts refute claims of "overcapacity" in China's new energy industry

Experts refuted the alleged "overcapacity" in China's new energy sector, pointing out that it is high-quality development that contributes to the thriving development of the industries.

Recent claims by the U.S. and European Union (EU) regarding alleged "overcapacity" on the part of China's electric cars and solar panels manufacturing sectors have sparked debate. In an interview with China Global Television Network (CGTN), Ronald Wan, non-executive chairman of Partners Financial Holdings, refuted allegations of low-cost dumping, underscoring China's efficient production processes and ongoing efforts to elevate product standards.

"We've seen a lot of trading partners of China trying to accuse (China of) anti-dumping [dumping], and basically a lot of issues, like releasing low-cost products into the international market. Well, that is not really true, because we've seen and that Chinese manufacturers have been very effective in producing a lot of products, including electronic [electric] vehicles and products like that. So while the Chinese market is trying to upgrade export quality, I think Chinese manufacturing and Chinese trading sectors will face all of these challenges in the future," Wan said.

In a separate interview, Wang Yiwei, director of the Center for European Studies at Renmin University of China, underscored the significance of China's expansive market size and robust infrastructure in fueling its competitive advantage.

"[For] the Chinese comparative advantage in the electronic [electric] vehicles, it's not because of the subsidies actually, which [as] China is a huge market is [with] a most independent and complete categories of industries, and also because [as] the Chinese infrastructure now is very high-quality, with the 5G, with mutual connectivities, which contribute to Chinese comparative advantage. And in general, the European Union cannot blame their declining comparative advantage because of the risk from China, which is unfair," Wang said.

Experts refute claims of "overcapacity" in China's new energy industry

Experts refute claims of "overcapacity" in China's new energy industry

Cuba held a grand International Workers' Day rally in its capital, Havana, on Wednesday, as a demonstration of national pride and a protest against the U.S. sanctions.

Cuban revolutionary leader Raul Castro, and Miguel Diaz-Canel Bermudez, the First Secretary of the Central Committee of the Communist Party of Cuba and Cuban President, attended the event at the city's Jose Marti Anti-Imperialist Plaza. The gathering also attracted about 200,000 participants, including thousands of international supporters from 58 countries and 220 organizations.

Under the theme of "For Cuba Together We Create", the rally advocated for national unity as a means to overcome economic challenges and achieve recovery despite the U.S. embargo against Cuba.

"The intensification of the U.S. policy aimed at suffocating our people to the maximum, along with our internal shortcomings, is shaping this scenario. The more complex the environment, the greater the need for unity. It's this unity that has gathered us here together and helped us overcome the tough challenges," stated Ulises Guilarte, General Secretary of the Workers' Central Union of Cuba (CTC), in his rally speech.

"Cuba is a beacon of hope, reminding us that a better world is achievable. Despite adversity, blockades and economic pressures, Cuba demonstrates that resistance is possible," said a rally participant from Chile.

Cuba holds International Workers' Day rally against US sanctions