According to the Ministry of Commerce's News Office on October 9, a spokesperson for the Ministry of Commerce answered questions regarding the United States gathering certain economies to release a joint ministerial statement addressing the so-called issue of "structural overcapacity and production."
The question was as follows: On October 7, US Eastern Time, the Office of the United States Trade Representative (USTR) issued an announcement stating that the United States had recently convened senior officials from 14 economies for a meeting, during which they jointly signed and released a ministerial joint statement addressing the so-called issue of "structural overcapacity and production." What is the Ministry of Commerce's comment on this?
The response stated: We have taken note of the relevant situation. China has repeatedly stated its position on the so-called "overcapacity" issue on different occasions, and in July of this year, it specifically released a position paper on the matter. China has consistently maintained that the issue of production capacity should be viewed with a comprehensive, objective, and fair attitude, and that economic and trade issues should not be politicized out of concern for one's own industrial competitiveness and market position.
China opposes individual countries using the so-called "overcapacity" as a pretext to practice trade protectionism, which will only disrupt the global economic and trade order and the stability of industrial and supply chains, bringing long-term risks to world economic growth. If relevant economies use this as an excuse in the future to take measures that harm China's interests, China will make necessary responses.
China is committed to building a modern industrial system through openness and cooperation, and supports the establishment of a fair and reasonable international economic order. China calls on all relevant parties to uphold multilateralism, advocate mutual benefit and win-win outcomes, respect market laws, and jointly safeguard an open and inclusive global industrial and supply chain cooperation framework.