Popularity of China's new energy products not due to subsidies: spokesperson

0 Comment(s)Print E-mail Xinhua, May 16, 2024
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BEIJING, May 16 (Xinhua) -- The popularity of China's new energy products in the global market is the result of long-term efforts by Chinese companies rather than government subsidies, He Yadong, spokesperson for the Ministry of Commerce, said Thursday.

Chinese companies have been conducting R&D investment in the new energy sector for more than two decades. Through fierce market competition, they have formed unique advantages, He told a regular press conference.

"China's new energy market is fully competitive, which results in the 'survival of the fittest' and the continuous emergence of high-quality enterprises and products," he said.

With regard to industrial subsidy policies, the spokesperson said such practices originated from the West, and are widely adopted by countries all over the world.

China's industrial subsidy policies abide by the WTO rules and adhere to the principles of fairness, transparency and non-discrimination, He said, adding that all enterprises operating in China can enjoy the same benefits.

By contrast, the United States and Europe have significantly hiked subsidies in recent years, and introduced a large number of exclusive and discriminatory practices, which set up obstacles for Chinese products to enter their markets, He said.

"These are typical protectionist practices and violate the basic principles of the WTO," He said. Enditem

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