The Ministry of Commerce issued the document “China's Position on the So-Called “Overcapacity” issue on the 28th. The document points out that “insufficient domestic demand in China has led to excess production capacity” is untrue. China is not only a major manufacturer, but also a major consumer country. Domestic demand has always been the main engine of the Chinese economy. From 2013 to 2024, domestic demand contributed an average of 93% to China's economic growth. Among them, the average contribution rates of consumption and investment were 55% and 38%, respectively. The argument that “insufficient domestic demand in China leads to excess production capacity” is also stealing the concept and applying the micro phenomenon of the market to the macro-structural level.

The Ministry of Commerce issued the document “China's Position on the So-Called “Overcapacity” issue on the 28th. The document points out that “insufficient domestic demand in China has led to excess production capacity” is untrue. China is not only a major manufacturer, but also a major consumer country. Domestic demand has always been the main engine of the Chinese economy. From 2013 to 2024, domestic demand contributed an average of 93% to China's economic growth. Among them, the average contribution rates of consumption and investment were 55% and 38%, respectively. The argument that “insufficient domestic demand in China leads to excess production capacity” is also stealing the concept and applying the micro phenomenon of the market to the macro-structural level.