China’s state-run newspaper, the People’s Daily, has pushed back against claims of overcapacity in the country’s new energy products, asserting that increased exports of electric vehicles, lithium batteries, and photovoltaic products reflect market demand and China’s comparative advantages in the industry.
According to the People’s Daily, China’s new energy industry has provided high-quality production capacity that has enriched global supply, eased global inflationary pressures, and promoted the global green and low-carbon transition. The article argues that such high-quality production capacity is not surplus but rather insufficient on a global scale, with the world needing more of it.
The article calls for an objective and dialectical view of production capacity, emphasizing the globalized nature of supply and demand and the importance of considering economic laws and market perspectives. It highlights China’s comparative advantages in electric vehicles, lithium batteries, and photovoltaic products, attributing them to a well-developed supply chain system, sustained technological innovation, and sufficient market competition.
China’s manufacturing sector, ranked first in the world for over 10 consecutive years, is described as having all industrial categories in the United Nations industrial classification. The country’s huge consumer market and diverse car-using environment are said to foster research and development, leading to the iterative upgrading of new energy vehicles (NEVs) and power batteries.
In terms of technological innovation, the article notes China’s progress in NEV battery core technology, citing advancements from liquid lithium-ion batteries to semi-solid lithium batteries, as well as developments in 800-volt high-voltage silicon carbide platforms.
The article also highlights China’s open approach to competition in the NEV industry, welcoming both local and foreign NEV makers. It argues that market competition in China’s new energy industry promotes technology iteration, cost reduction, and efficiency, enhancing international competitiveness.
China’s new energy products are described as in line with the global trend of green and low-carbon transition, with high quality and competitive pricing. The article suggests that these products are in short supply in many countries, particularly developing countries seeking to realize energy transition goals.
