China dismisses accusations of ‘squeezing out’ other economies
The US and EU regularly accuse Beijing of heavily subsidising its industry and flooding foreign markets with its products.
China's Vice Premier Ding Xuexiang dismissed allegations of the nation "squeezing out" other economies during the opening of a major business fair in Shanghai. Ding maintained that China's product competitiveness arises from technological advantages and substantial investment in research and development, rather than government subsidies.
The US and EU routinely accuse Beijing of subsidizing industries and flooding markets with goods, particularly in vehicles and green technology, to the detriment of local companies. Ding emphasized that the claims are "completely unfounded" as more than 4,000 foreign firms participated in the China International Import Expo, which has been held annually since 2018.
While the Asian giant maintains significant trade surpluses with the US and EU, Ding stated that Beijing has never intentionally sought a trade surplus. He also noted that foreign companies face challenges in accessing the Chinese market due to competition from local firms and regulatory issues.
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Also reported by 1 other outlet
- China dismisses accusations of ‘squeezing out’ other economies freemalaysiatoday.com
