Xi says there is no such thing as 'China's overcapacity'

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.

China always views its relations with the EU from a strategic and long-term perspective, and regards Europe as an important dimension in its major-country diplomacy with Chinese characteristics and an important partner on its path toward Chinese modernization, Xi said.

It is hoped that China-France and China-EU relations would reinforce each other and thrive together, Xi said.

.

Keep Reading business

•  Leveraging PPPs to address Kenya's infrastructure crisis
•  Skyward Express launches Nairobi to Dar es Salaam flight
•  Scientists root for genome editing to boost food security
•  TVETs to get Sh49 million funding for tech training
•  Amsons' bid for Bamburi Cement gets Comesa approval

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.

China's new energy industry has made real progress in open competition and represents advanced production capacity, Xi noted, adding that it not only increases global supply and alleviates the pressure of global inflation, but also contributes significantly to global climate response and green transition.

China-EU cooperation is in essence complementary and mutually beneficial, and the two sides have extensive common interests and broad space for cooperation in green and digital transition, he said.

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

Macron noted that this year marks the 60th anniversary of diplomatic relations between France and China, and cooperation between the two sides has yielded many important outcomes.

Macron expressed his delight in holding the France-China-EU trilateral leaders' meeting during President Xi's third state visit to France, saying that this is both a continuation of the previous France-China-EU trilateral meetings and also what is urgently needed to address the various international challenges.

Noting that the world today faces major challenges, and that the international situation is at a critical inflection point, 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.

The EU refuses the logic of decoupling, welcomes investment and cooperation by Chinese companies in Europe, and hopes to step up cooperation with China and jointly safeguard the security and stability of value chains and supply chains in Europe, he said.

France wishes to work with China closely to address global challenges such as climate change and marine biodiversity, said Macron.

Von der Leyen noted that the EU and China enjoy a sound relationship and will mark the 50th anniversary of their relations next year.

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, she said.

The EU wishes to work with China in the spirit of mutual respect, seek common ground despite differences, enhance mutual trust, avoid misunderstanding, jointly uphold the international order based on international law, and promote world peace, security and prosperity, she said.

The EU commends China for its efforts and progress made in green transition and development, acknowledges China's legitimate right to develop, and wishes to continue candid dialogue with China and strengthen their cooperation, she added.

On the Ukraine crisis, Xi pointed out that China, France and the EU all wish to see an early ceasefire and return of peace in Europe, and support political settlement of the 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.

Noting that China's objective and just position and its constructive role have been widely recognized by the international community, he said China is ready to stay in communication with relevant parties.

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.

Noting that China and the EU share many important consensuses on the Palestinian-Israeli issue, Xi said China is ready to work with the EU to support a more broad-based, authoritative and effective international peace conference to be held as quickly as possible to set a timetable and a roadmap for the two-State solution, and to promote comprehensive, just and lasting settlement of the Palestinian question at an early date.

The three leaders are of the view that the trilateral meeting has increased mutual understanding, built consensus for cooperation, and identified ways to address problems. They expressed readiness to keep working together to promote sound and steady growth of China-EU relations.

Cai Qi and Wang Yi were present at the meeting.