Home Editor's Pick Xi says there is no such thing as “China’s overcapacity”

Xi says there is no such thing as “China’s overcapacity”

PARIS, May 7 – Whether viewed from the perspective of comparative advantage or global market demand, there is no such thing as “China’s overcapacity problem,” Chinese President Xi Jinping said on Monday.

Xi made the remarks at a China-France-EU trilateral meeting with French President Emmanuel Macron and European Commission President Ursula von der Leyen at Elysee Palace.

Xi said he hopes that the EU institutions develop the right perception of China and adopt a positive China policy.

China and the EU should make good preparations for a new round of China-EU Summit and for high-level dialogues in the strategic, economic and trade, green, and digital fields, and foster a partnership on industrial and supply chains featuring stability and mutual trust, Xi said.

It is important to make good use of China’s visa-exemption policy for European countries and relevant arrangements to facilitate travel for foreign visitors, and encourage people-to-people exchanges and exchanges at the subnational level as well as cooperation on education and scientific research, in an effort to enhance popular support and public opinion for growing China-EU relations, Xi added.

Xi urged the two sides to properly address economic and trade frictions through dialogue and consultation, and accommodate each other’s legitimate concerns.

Macron said that now more than ever, France and the EU need to strengthen cooperation with China, as this bears on the future of Europe.

France hopes to enhance dialogue and cooperation with China, and strengthen mutual trust and friendship between France and China and also between the EU and China, he said.

Von der Leyen noted that given China’s weight in global affairs, it is important that the EU maintains good relations with China, and this will determine whether global challenges such as climate change and the Ukraine crisis can be better addressed.

On the Ukraine crisis, Xi urged the three parties to jointly oppose spillover and escalation of the fighting, create conditions for peace talks, safeguard international energy and food security, and keep industrial and supply chains stable.

China did not create the Ukraine crisis, nor is it a party to it, he said, adding that China has been working vigorously to facilitate talks for peace all along.

On the Palestinian-Israeli conflict, Xi stressed that the pressing task is to realize a comprehensive ceasefire as quickly as possible, that the key priority is to ensure humanitarian assistance, and that the fundamental way out is to implement the two-State solution.

China supports Palestine’s full membership in the United Nations, he said.

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