China dismisses accusations of ‘squeezing out’ other economies

Vice Premier Ding Xuexiang dismissed allegations that China is "squeezing out" other economies at the opening of a major business fair focused on attracting importers. The United States and European Union frequently accuse Beijing of subsidizing its industries and flooding foreign markets with products, particularly in the automotive and green technology sectors, harming their domestic companies. Ding asserted that such claims are "completely unfounded."

More than 4,000 foreign companies participated in the China International Import Expo, which has been held annually since 2018. Chinese officials promote the country not just as the world's manufacturing hub but also as a vast open market for foreign products. However, China maintains significant trade surpluses with the US and EU, fueling tensions.

Ding emphasized that the competitiveness of Chinese products does not stem from government subsidies but from their technological advantages and substantial investments in research and development. He stressed that Beijing has never deliberately pursued a trade surplus. Despite US restrictions on exporting advanced technologies to China for national security reasons, Ding pledged to create favorable conditions for international firms to expand their businesses in China.

Foreign companies have expressed concerns about market access, competition from local firms, and regulatory hurdles.