US criticism of China's new energy capacity questioned

"Why does the US blame China's new energy 'overcapacity' but doesn't mind our clothing 'overcapacity'?" questioned Zhou Hongyi, founder of Chinese cybersecurity company 360 Security Group in an interview with China Daily during the Zhongguancun Forum in Beijing on Thursday.

Zhou said that China has sold numerous textiles and various garments at low prices to the US and "helped them wear a different outfit every day without repeating", but the US does not seem to mind China's mass clothing production.

"Why, then, has the US blamed China when the latter's strategic-emerging industries can provide similar high-quality and affordable products to the world," he said, adding that he does not buy the US's criticism.

His comments come amid rising criticism from some Western countries including the United States regarding China's so-called overcapacity in its new energy sector, which they argued distorts global prices and industry chains.

He said China has seen its new green sectors develop very fast, but the achievements have been made amid fierce market competition.

"For example, our photovoltaic industry is particularly developed, and energy storage business is also on the rise now," Zhou said. "Chinese companies have developed some phenomenal products through global competition. Although the competition is very fierce, they have greatly enhanced the efficiency and reduced the costs of industries such as photovoltaics."

"If the US does not purchase Chinese photovoltaic products, it will lead to inflation and expensive products for its own consumers," he added.

He added that in some parts of China, there are vast deserts and uninhabited areas and if those areas can be well utilized to develop photovoltaic and wind power industries, they will generate a large amount of electricity that can be used for large model training.