Image Credits - The Economic Times
During the second meeting of the World Trade Organization’s ninth trade policy review of China held on Friday, China vehemently denied allegations of “overcapacity” and “economic coercion” made by certain WTO members. Addressing the criticisms, China’s delegation emphasized that its subsidy policies align with WTO rules and that the success of Chinese enterprises is driven by market competition.
This meeting came shortly after the third plenary session of the Communist Party of China’s (CPC) 20th Central Committee, which concluded on July 18 and adopted a resolution to deepen reforms and advance Chinese modernization. The Chinese representatives underscored this resolution as a testament to China’s commitment to expanding openness and pursuing high-quality development, promising significant opportunities for the global community.
China dismissed claims of “overcapacity” in new energy sectors, arguing that the global demand for green and low-carbon technologies negates such allegations. The delegation firmly denied practices of “economic coercion,” criticizing some WTO members for their “long-arm jurisdiction,” restrictive lists, and arbitrary sanctions, which they identified as the true sources of economic coercion.
The Chinese representatives approached various concerns with transparency, covering industrial policy, subsidies, state-owned enterprises, intellectual property protection, cyber security, government procurement, export controls, and transparency. Detailed explanations were provided on policy objectives, operational specifics, implementation effects, and future directions.
Throughout the review, representatives from 71 WTO members engaged, many commending China’s reforms, and contributions to the WTO, and expressing eagerness to deepen economic and trade relations. They also anticipated China’s enhanced role in global economic recovery and practical cooperation with developing nations, reinforcing the multilateral trading system.