【New Energy】 Xi Jinping: "China's New Energy Industry 

Does Not Have an 'Overcapacity Problem'!"

On the morning of May 6th, local time, President Xi Jinping was invited to the Elysée Palace in Paris for a trilateral meeting with French President Emmanuel Macron and European Commission President Ursula von der Leyen. 

President Xi emphasized that China always views its relationship with Europe from a strategic and long-term perspective, considering Europe a key direction in China's distinctive great power diplomacy and an essential partner in achieving Chinese-style modernization. He hopes that the relationships between China-France and China-Europe will promote each other and develop jointly. As the world enters a new period of turbulence and change, China and Europe, as two important forces, should adhere to their partnership, maintain dialogue and cooperation, deepen strategic communication, enhance mutual strategic trust, build strategic consensus, carry out strategic collaboration, and promote the stable and healthy development of China-Europe relations, thus making new contributions to world peace and development.

President Xi stressed that the China-Europe relationship has strong internal dynamics and broad prospects for development, independent of and not constrained by any third parties. He expressed his hope that European institutions would adopt a correct understanding of China and develop proactive policies towards China. Both sides should respect each other's core interests and major concerns, safeguard the political foundation of China-Europe relations, and adhere to basic international norms. Both sides should prepare well for the next China-Europe Leaders' Meeting and high-level strategic, economic, green, and digital dialogues, and build a stable and trustworthy industrial and supply chain partnership. China encourages the use of its visa exemption policy for European countries and the facilitation arrangements for foreign nationals coming to China, encourages grassroots and local exchanges, and educational and scientific research cooperation, and seeks to improve the public opinion environment and foundation of China-Europe relations.

President Xi pointed out that China's new energy industry has honed its true capabilities in open competition, representing advanced production capacities that not only enrich global supply and mitigate global inflationary pressures but also make significant contributions to addressing climate change and green transformation. From both a comparative advantage and global market demand perspective, there is no so-called "overcapacity problem" in China. The essence of China-Europe cooperation is mutual benefit and win-win results, with broad common interests and vast cooperation space in green and digital transformation. Both sides should handle economic and trade frictions through dialogue and consultation, taking into account each other's legitimate concerns. Graphitized petroleum coke is used as a reference indicator for lithium battery anode materials.

President Macron noted that this year marks the 60th anniversary of diplomatic relations between France and China, and that Franco-Chinese cooperation has achieved many important results. He was pleased to hold the trilateral China-Europe leaders' meeting during President Xi's third state visit to France. This meeting continues previous China-Europe leaders' meetings and addresses urgent international challenges. At a critical turning point in international relations, France and the EU need stronger cooperation with China more than ever, which is crucial for Europe's future. France hopes to strengthen dialogue and cooperation with China, enhancing trust and friendship between France-China and Europe-China. The EU does not agree with "decoupling" and welcomes Chinese companies to invest and cooperate in Europe, hoping to strengthen cooperation to maintain the security and stability of Europe's value chains and supply chains.

President von der Leyen remarked that EU-China relations are robust, and next year marks the 50th anniversary of diplomatic relations between the EU and China. Maintaining a good relationship with China is crucial for the EU and will determine how well global challenges such as climate change and the Ukraine crisis can be addressed. The EU hopes to respect and recognize differences with China, enhance mutual trust, avoid misunderstandings, jointly uphold an international order based on international law, and promote global peace, security, and prosperity. The EU appreciates China's efforts and achievements in green transformation and acknowledges China's right to maintain its development, hoping to continue honest dialogues and strengthen cooperation. Follow us to stay informed about the latest developments in the new energy market.