China's new energy products offer diverse choices for consumers

Updated: Apr 30, 2024 Xinhua Print
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A BYD Ocean-M electric car is displayed at the 2024 Auto China in Beijing on April 25, 2024. [Photo/VCG]

BEIJING - Some Western politicians allege that China's new energy products impact global economy. However, facts and figures prove such a narrative groundless and false.

China's export of new energy products has contributed much to global economic expansion and price equilibrium. China's pivotal role in driving energy transitions, fostering economic growth, and enhancing livelihoods globally cannot be overstated.

Against a backdrop of sluggish global growth and heightened inflationary pressures in recent years, Chinese products have stood out for their hallmark attributes of quality, efficiency, and cost-effectiveness. This has translated into tangible support for stabilizing global industrial and supply chains, effectively bolstering the availability of goods worldwide and mitigating inflationary strains.

Despite the competitive pricing of China's new energy exports, they fall within acceptable trade parameters and do not meet the technical definition of dumping. As exports increase, the prices of China's new energy vehicles also increase. Li Dawei, a researcher at the Academy of Macroeconomic Research, emphasized that these products maintain prices aligned with their inherent value, underscoring China's adherence to fair trade practices.

China's reach in the wind power and photovoltaic markets extends across more than 200 countries and regions, significantly driving down the global cost of clean energy adoption. Furthermore, collaborative endeavors in green energy ventures with over 100 nations have facilitated greater accessibility and affordability of local electricity supply.

China's advanced capacity contributes a lot to the world's economic development, greatly enriches the global supply and provides diverse choices for consumers.

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