China's Ambassador to the European Union Fu Cong has denied the recent claim that China is exporting its excess volumes of electric vehicles to the European market.
“I want to emphasize that the fact that Chinese companies are selling cars in Europe is itself itself does not mean having excess capacity,” the ambassador said during the Europe-China Forum held here by the Brussels-based non-profit think tank Friends of Europe.
The event was attended by about 300 politicians, businessmen and researchers.
Arguments about excess capacity have emerged in the bloc as it prepares for a bilateral summit with China scheduled for next month.
“China clearly has excess capacity and it will be exported,” the chairman said European Commission Ursula von der Leyen last week, noting that it was for this reason that the EU launched an anti-subsidy investigation into Chinese electric vehicles.
Rejecting such claims, Fu Cong asked: “If the search for a foreign market can be automatically interpreted as excess capacity, what are European companies doing in the Chinese market?
He expressed concern about the fairness of the opening of the investigation and its procedures, expressing hope that “common sense will prevail.”
Fu Cong assured the business sector that China is committed to reform and opening up and promoting high-quality development. “This means more opportunities for European companies.”
Noting China's strong economic recovery with one of the fastest growth rates among major economies, Fu Cong mentioned that China continues to be the largest contributor to global economic growth. Its share in 2023 was one-third.
He cited the fact that the International Monetary Fund recently raised its forecast for China's economic growth in 2023 by 0.4 percentage points.
Fu Cong also called on both sides to develop a "correct perception of each other."
The Chinese ambassador said he believed there was no fundamental conflict of interest between China and the EU. "Yes, the two sides have differences on a number of issues, but the good thing is that both sides are talking to each other," he said.
