The theory of so-called "overcapacity" of China's new energy industry is in fact a fallacy, which not only fails to meet reality, but also goes against the law of market economy development, a senior official with the General Administration of Customs said on Tuesday.
Zhao Zenglian, deputy chief of the General Administration of Customs, made the statement at a press conference in Beijing to deny the claim hyped up recently that there is so-called "excess capacity" of China's new energy industry.
"Green has become the distinctive undertone of high-quality development in foreign trade. Four out of every ten cars exported by China are electric vehicles, and seven out of every ten rail locomotives exported by the country are electric. Besides, nearly 90 percent of the batteries exported by China are lithium batteries. Recent claim of so-called 'overcapacity' in China's new energy industry is a fallacy. Such a theory is inconsistent with reality and also contradicts the principles of market economy development. Take electric vehicles as an example. According to estimates by the International Energy Agency, global electric vehicle sales are projected to reach around 45 million units annually by 2030. This number is three times the global sales in 2023 and five times that of China's production. Far from being in surplus, China's new energy products are contributing significantly to the global green supply, thereby contributing China's strength to combating climate change worldwide," he said.
China’s EV "overcapacity" is fallacy: official
China's railway is expected to handle 13.2 million passengers nationwide on Thursday, the 10th of this year's 40-day Spring Festival travel rush, as the railway passenger traffic has been running at a high level for several days.
The railway transported 13.32 million passengers on Wednesday, the ninth day of the travel rush.
By 20:00 Wednesday, the country's railway ticketing platform 12306 had sold a total of 271 million tickets for the Spring Festival travel period which runs from Jan 14 to Feb 22.
To ensure smooth travel during the Spring Festival, local railway departments are adding trains to meet the surging demand.
China Railway Xi'an Bureau Group in northwest China's Shaanxi Province, is expected to handle 455,000 passengers on Thursday, with the local railway authorities planning to add 98 extra trains, including 12 overnight high-speed trains to the metropolises of Beijing, Shanghai and Hangzhou.
China Railway Nanning Bureau Group in south China's Guangxi Zhuang Autonomous Region is set to run 690 passenger trains on Thursday, including an additional of 101 bullet trains.
Qingdao railway station in east China's Shandong Province will operate passenger trains to Urumqi, capital of northwest China's Xinjiang Uygur Autonomous Region, for the first time.
The Spring Festival travel rush, known as Chunyun, is the largest annual human migration in the world as tens of millions of Chinese people return to their hometowns to celebrate the Lunar New Year with their families.
The Spring Festival falls on Jan 29 this year, ushering in the Year of the Snake.
China's railway expected to handle 13.2 mln passengers on 10th day of Spring Festival travel rush