At a State Council information office briefing, MOFCOM rebutted concerns over
the so-called "excess capacity", saying Chinese products meet global production
and consumer needs, broaden consumer choice, lower costs and help buffer
inflationary pressure. It said exports of equipment and intermediate goods
support trade partners' industrialization and green transition, noting China
supplies over 80% of global PV modules and about 70% of wind-power equipment.
MOFCOM also said foreign firms account for 16% of China’s trade surplus and have
earned substantial investment returns.
