The Ministry of Commerce of China File photo: VCG

China will make a necessary response if relevant economies use so-called "overcapacity" as a pretext to take measures that harm Chinese interests, a spokesperson for China's Ministry of Commerce (MOFCOM) said on Friday.

The remarks came in response to a question about an announcement issued by the Office of the US Trade Representative (USTR) on October 7 stating that it had convened a meeting of senior officials of 14 economies to begin work to address "structural excess capacity" and production in key manufacturing sectors, and the economies joined the US in signing a joint ministerial statement to address so-called "global excess capacity" and production in key manufacturing sectors.

"We have noted the relevant developments," the MOFCOM spokesperson said, noting that China has repeatedly explained its views on the so-called "overcapacity" issue on different occasions and released a dedicated position paper in July this year.

China has consistently maintained that capacity issues should be viewed in a comprehensive, objective and fair manner. Economic and trade issues should not be politicized out of concerns about one's own industrial competitiveness and market position, the spokesperson said.

China remains committed to building a modern industrial system through openness and cooperation and supports the establishment of a fair and equitable international economic order, the spokesperson added.

China calls on all relevant parties to uphold multilateralism, promote mutual benefit and win-win outcomes, respect market principles, and jointly safeguard an open and inclusive framework for global industrial and supply chain cooperation, the spokesperson said.

Global Times