US fears that cheap Chinese exports – such as solar panels and electric vehicles – are harming the development of green industries around the world are unfounded, China says.
According to multiple media reports, Premier Li Qiang met with Janet Yellen, the US treasury secretary, in Beijing earlier this week and told her that Washington should view the matter of China’s production capacity “objectively.”
He added that China’s new energy industry would make “important contributions to the global green and low-carbon transition.”
[See more: AI will increase energy use and could worsen the climate crisis, report says]
Meanwhile, China’s commerce minister Wang Wentao said during a visit to Paris last weekend that “the accusations of ‘overcapacity’ by the United States and Europe are groundless.”
According to Washington and its allies, Beijing is over investing in the likes of electric vehicles, batteries and solar products. Such “large-scale government support” – in Yellen’s words – creates unfair advantages for Chinese companies.
Beijing counters that the growth of China’s new energy is the result of innovation, not subsidies.
