On December 24th, Ambassador Peng Gang of the Chinese Embassy in the European Union published a signed article titled “The Theory of China’s’ Overcapacity ‘is Completely untenable” on the well-known European media “EU Dynamics” on December 23rd, 2024. It is mentioned that in recent times, some European and American politicians and media have once again hyped up the so-called “overcapacity theory” in China, and expanded this accusation from the new energy industry to more industrial categories, claiming that China is digesting overcapacity through exports and impacting the world market. In fact, this argument is abusing the concept of “overcapacity”, which is neither in line with objective facts nor in violation of the laws of market economy. According to research by the International Energy Agency, in order to achieve carbon neutrality goals, the global demand for new energy vehicles will reach approximately 45 million units by 2030, more than three times that of 2023; By 2030, the global demand for power batteries will reach 3500GWh, which is more than four times the global shipment volume in 2023 and far exceeds the current global supply capacity. The report of the United Nations Conference on Trade and Development believes that in order to achieve the global carbon neutrality goal, investment in the global new energy sector must be further accelerated. From this, it can be seen that the current global production capacity in the green sector is relatively insufficient and still needs to be significantly increased, far from being “surplus”. In recent years, China has accelerated the development of new quality productivity, relying on the improvement of research and development innovation capabilities, the support of a complete industrial chain and supply chain, and the huge domestic market size to form a competitive advantage in the new energy industry, becoming a key force in global green transformation. European intellectuals have expressed that the so-called “overcapacity” in China’s green sector is a ridiculous statement. “
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