China’s role in stabilizing the global energy and fertilizer markets amid the Hormuz Crisis shows that the country is a defender of global supply chains, rather than a disruptive force as “proposed” by the West, Vice Premier Ding Xuexiang said on Monday.
“The fact that Chinese manufacturing never fails or fails at critical moments fully proves that China is a participant, builder and advocate of the global supply chain,” Ding said during the opening ceremony of the fourth China International Supply Chain Exhibition (CISCE) in Beijing.
Ding defended China’s manufacturing machine against accusations of overcapacity, rejecting what he described as the Western narrative used to justify protectionist measures.
Industrial development in the country was not the result of protection and government subsidies, he added, but it is based on reforms and opening up, industrial base and large market.
“China is not actively pursuing a trade surplus,” Ding said. “The biggest obstacle for China to increase its imports is not within itself, but with some countries that abuse export controls.”
