China's foreign trade recorded a new high in April, with trade with traditional and new emerging markets such as the EU, the US, and Belt and Road Initiative (BRI) partner countries all showing a growth trajectory, He Yadong, spokesperson for China's Ministry of Commerce, said at a press briefing on Thursday. 

In April, China's foreign trade hit a record high, which was one of the most prominent features of the April data, according to He. The foreign trade number stood at 3.64 trillion yuan ($560 billion) in April, up 80 billion yuan from March. This represents year-on-year growth of 8 percent. Imports and exports increased by 5.1 percent and 12.2 percent year-on-year, respectively. He said this performance was in line with market expectations. 

Meanwhile, China's trade with traditional markets reversed from decline to growth in April, driven by factors like inventory digestion and demand recovery, He said. Exports to the EU and the US jumped 3.3 percent and 6.2 percent, respectively. Regarding emerging markets, trade with members of the Association of Southeast Asian Nations (ASEAN) and BRI partner countries grew by 14.4 percent and 9 percent, respectively, surpassing the overall average.

According to He, from the standpoint of industries, machinery and electrical products were the primary contributors to the overall trade growth, with a 10.4 percent increase in imports and exports, driving a 5.1 percentage point increase in overall trade. Additionally, the global export recovery for electronic information products led to a 20.4 percent rise in integrated circuit imports.

Global trade is continuing the slow recovery trend seen since the fourth quarter of 2023, which has stabilized the confidence of foreign trade enterprises to some extent, according to He. MOFCOM's recent surveys revealed that key foreign trade enterprises have witnessed a consecutive four-month improvement in new orders, with over 80 percent of Canton Fair exhibitors reporting stable or increased order volumes. 

He nevertheless took note of certain challenges and headwinds, particularly the unilateralism and protectionism practices by certain countries, which not only elevate costs and risks but also disrupt global industrial and supply chains.

"Facing these uncertainties, China is committed to promoting high-level opening-up and actively cultivating new drivers of foreign trade. At the same time, we will address the difficulties faced by foreign trade enterprises and assist companies in reducing costs, increasing efficiency, and enhancing international competitiveness," said He. 

The Biden administration reportedly will announce new tariffs as high as 100 percent on Chinese electric vehicles and additional import taxes on other Chinese goods, including semiconductors, as early as Tuesday. The Biden administration has been justifying this move with hype of "overcapacity" and "unfair competition," allegingthat Chinese new energy product exports threaten US manufacturers.

It seems that US politicians have wokenup after decades of consumerism hangover, during which they cared only aboutconsumption and not for production. Now, they want to rebuild their manufacturing capacity, but the horse has already bolted. The solution would be exactly the opposite of what they are doing, that is, they should rebuild their industrial capacities with the help of - while not suppress Chinese industrial power.

As to the effects on the US economy, green transition is rather expensive and it will be even more expensive without Chinese products. 

In the logic of the so-called green transition, which aims to de-carbonize the economy in the shortest time possible in order to mitigate climate change, opposing Chinese exports of new energy products makes no sense. Chinese products, in fact, being more affordable and available "off the shelf," would make the transition cheaper and faster. 

Any factor that can reduce such costs, such as Chinese technology and Chinese products, should be welcomed by economists and decision-makers. 

Behind the  overhyped"overcapacity"narrative, I also see a geopolitical reason and a way to blame China for Washington's failures. The US has decided to hinder China's growth under the baselessassumptions. Some US politicians are afraid of losing the dominant political, financial and technological position in the world.

Does China have an "overcapacity" in green production? 

Overcapacity should reflectan imbalance between demand (lower) and supply (larger), but it is often misused. If we look at the global demand for new and clean energy, we have an under-capacity. Especially in Africa some of its 1.4 billion people currently lack access to electricity. Most of them are in Sub-Saharian Africa, in countries which, even if they want to, have neither the financial or the physical means to satisfy that demand. 

It is obvious that the technology must be brought in from countries like China and other industrializednations. I do not call that "overcapacity" but rather theexport of capital goods, and Chinese new-energy products are competitive because of economy of scale and innovation. 

Another argument often used against Chinese firms is that they do not compete on a "level playing field" with US companies. Chinese firms are often accused of enjoying government subsidies that allow for unfair competition with US firms, which supposedly do not receive subsidies. This is not true. 

US producers of solar panels, EVs and other "new energy" products have enjoyed, directly or indirectly (sometimes through electricity prices or purchase bonuses), government subsidies. Or take the case of CO2 certificates, which are one way in which companies such as Tesla are massively subsidized by producers of conventional cars.

The opinion is based on an interview with Claudio Celani, economic editor of news magazine Executive Intelligence Review

At a time when Western media outlets have focused on the potential trade dispute between China and the EU, the attention on how China-France economic and trade relations will gain new momentum for further development has increased significantly. 

Behind the complexity of trade relations lies the impact of external factors - such as the uncertainty of the global economic recovery, the escalation of geopolitical conflicts, and most importantly, the US push for a "decoupling" policy toward China - on the economic cooperation between the two countries.

Yet, such complexity is far from derailing the complementarity in bilateral trade relations, which remains an important force for promoting cooperation between the two countries. France was one of the earliest Western countries to invest in and set up joint ventures in China. It was also the first Western country to cooperate with China on civilian nuclear energy, the first Western country to sign an intergovernmental scientific and technological cooperation agreement with China, and the first Western country to open a direct air route with China.

In China-France relations, economic and trade cooperation has always been a crucial stabilizing force. Over the past six decades, bilateral trade has surged by more than 800 times. Now, France is China's third-largest trading partner within the EU, with bilateral trade reaching $78.9 billion in 2023, while China is France's largest trading partner in Asia and the seventh-largest globally.

The fruitful development of bilateral economic and trade relations lies in the solid foundation of cooperation and the highly complementary economic structures of both sides. China has a competitive advantage in manufacturing, electronics, and machinery and equipment, while France excels in aerospace, nuclear energy, high-end consumer goods and agricultural products. 

Such economic structures provide both countries with vast trade and investment opportunities. 

In particular, with China's economic restructuring in recent years, the upgrading consumption trend has brought new opportunities for France's consumer goods and services industries. 

Bilateral agricultural has been on the rise over the past 10 years, according to Chinese media reports. When French President Emmanuel Macron visited China in April 2023, the two countries signed cooperation agreements aimed at strengthening their partnerships in agriculture, food, and technology. French meat, grain, poultry and other industries are actively pursuing opportunities in the Chinese market.

In the first two months of this year, French direct investment in China surged by 585.8 percent year-on-year, according to data from China's Ministry of Commerce. If anything, it reflects the optimistic expectations of French companies for China's economic potential and their recognition of the vitality of the Chinese market.

Practical cooperation will continue to thrive, with opportunities not only in traditional sectors such as aerospace and nuclear energy, but also in emerging areas like the energy transition and green development.

With this promising future, it is essential for both sides to work together to protect their cooperation momentum from potential disruptions caused by the "decoupling" or "de-risking" push.

Continued practical cooperation in bilateral economic ties is not only essential for the relationship between the two countries, but also plays a crucial role in advancing the broader long-term China-Europe relationship.

A think tank report titled "China-EU Cooperation on Environment and Climate: Progress and Prospects" was released on Friday. The report called for the further strengthening of the bilateral green partnership and making contributions to promoting a cleaner and more beautiful world.

China is making efforts to improve the access of foreign companies to the Chinese market, as seen in the shrinking negative list for foreign investment and the improving investment climate. 

It is sincerely hoped that France will meet China halfway, fostering greater bilateral trade and investment cooperation through enhanced communication and coordination, ultimately contributing to the stability and prosperity of the global economy.

China's Ministry of Commerce (MOFCOM) announced on Tuesday that it has launched an anti-dumping investigation into imports of cypermethrin originating in India, after receiving an application for investigation from a domestic chemical company.

Experts noted that compared with India's unjustifiable oppression of Chinese industries and enterprises in India, the MOFCOM investigation is justified. They urged the Indian side to take a correct view of the competition between the two countries and stop hindering the development of globalization.

According to the announcement, the ministry received an application for an anti-dumping investigation submitted by Jiangsu Yangnong Chemical Industry Co on behalf of China's cypermethrin industry on April 2, under which the applicant requested an anti-dumping investigation into imports of cypermethrin originating in India.

Cypermethrin is mainly used for the production of insecticide formulations, which is widely used in agriculture, healthcare and other fields for the control of pests in cotton, fruit trees, vegetables, tobacco, corn and flowers.

Based on the evidence provided by the applicant and the review results of the MOFCOM, the ministry decided to start an investigation, and the investigation period of the dumping actions is from January 1, 2023 to December 31, 2023.

The investigation commenced on Tuesday, and it should normally be concluded by May 7, 2025, with a six-month extension under special circumstances.

Stakeholders should register with the related department of the MOFCOM to participate in the anti-dumping investigation within 20 days from the date of the announcement, said the ministry.

"China's investigation is reasonable. However, India has one of the highest numbers of anti-dumping investigations against Chinese industries of any country, combined with its continuous suppression of Chinese enterprises in the past few years," Liu Zongyi, director of the Center for South Asia Studies at the Shanghai Institutes for International Studies, told the Global Times on Tuesday.

A main reason why India has been suppressing Chinese companies is that the country believes that the trade war with China initiated by the US will become an opportunity for India to develop its own industry, Liu said.

Liu noted that competition between countries in certain economic areas is a very normal phenomenon, and the key is to look at it with a fair and just mindset.

Total China-US tradeexpanded 1.1 percent year-on-year to 1.47 trillion yuan ($203.42 billion) in yuan-denominated terms in the first four months, reversing a 0.7percent contraction in the first three months, customs data showed on Thursday.

The return of growth underscored the resilience and complementarity of trade relations between the world's two largest economies, which will retain a ballast role in the bilateral relationship, observers said. They predicted that more potential could be released this year if the US can check its urge to relentlessly contain China's development.

The surging trade sent a stern warning to certain US politicians and their decoupling push against Chinese exports, either in the guise of smearing "overcapacity" or hyping "de-risking," analysts said. It shows that those politicians' actions - motivated by geopolitical intentions - severely deviate from the interests of the US business community, and only pragmatic cooperation with the Chinese side would lead to win-win results, they noted.

In the first four months, China's exports to the US grew 2.4 percent year-on-year to 1.08 trillion yuan in yuan-denominated terms, while imports edged down 2.5 percent to 387 billion yuan, according to data from the General Administration of Customs.

The US remained China's third-largest trading partner in the first four months, after ASEAN and the EU, according to the Global Times' calculations.

In the first quarter, China's exports to the US gained 2.1 percent, while imports were down 7.7 percent.

In April alone, bilateral trade reached 400.3 billion yuan, customs statistics showed, compared with 386.8 billion yuan a year earlier.

Observers said that bilateral trade showed a turnaround between March and April, amid animproving and stabilizing trajectory of bilateral relationships. Exchanges of high-level officials have intensified in recent months.

"It also showed that the Chinese and US economic structures are highly complementary andunderscored the win-win nature of bilateral cooperation," Gao Lingyun, an expert at the Chinese Academy of Social Sciences, told the Global Timeson Thursday.

The increasing competitiveness of Chinese quality exports to the US consumer market also showed that Chinese manufacturers have helped the US to mitigatepersistent inflation, analysts added.

Gao said that the rebound also reflected a broad recovery in global demand, which bodes well for China's overall foreign trade this year. In the first four months, China's merchandise trade rose 5.7 percent year-on-year to13.81 trillion yuan.

China-US trade is likely to continue the positive momentum in the coming months and exceed last year's level, taking account of the low base effect and the stronger US dollar, Gao said, though the upcoming US presidential election will mean some uncertainty for bilateral relations.

"The US may regain its position as China's second-largest trading partner this year, depending on how China's trade with the EU develops," Gao said.

China's trade with the EU fell by 1.8 percent to 1.75 trillion yuan in the first four months, which observers said was partly due to the sluggishness in the bloc's economy.

The release of thetrade data came as US politicians ramped up a crackdown against Chinese advantageous industries, using "overcapacity" claims to justify more protectionist measures against Chinese exports.

Cong Yi, a professor at the Tianjin University of Finance and Economics, told the Global Times on Thursday that the vigorous trade shows that the malicious geopolitical intentions of politicians represent a serious departure from the true interests and trading activities of US businesses.

"The US market did not buy into Washington's decoupling push, and it is eager for more pragmatic cooperation with the Chinese side," Cong noted.

The US reportedly revoked licenses that allowed companies including Intel and Qualcomm to ship chips used for laptops and handsets to Huawei, Reuters reported. Observers said that Chinese companies could have imported more US products if Washington had not imposed so many export restrictions.

Chinese President Xi Jinping left Budapest on Friday after paying state visits to France, Serbia and Hungary. Hungarian Prime Minister Viktor Orban bid farewell to Xi at the airport.

AITO Automobile, a Huawei-backed new-energy vehicle brand, said it is actively investigating the incident in collaboration with the local traffic police department after a serious traffic accident took place in Yuncheng, North China's Shanxi Province.

The announcement came after a Huawei AITO M7 burst into flames after crashing into a sprinkler truck on a highway on Friday afternoon in the city, killing all three passengers on board, including a 2-year-old boy, according to chinanews.com.cn.

The company is actively cooperating with the local traffic police department to conduct accident investigations, providing all necessary data to reconstruct the cause of the accident, and offering all possible support to the families of those involved, said AITO in a statement released on its WeChat public account on Sunday.

The automaker said the vehicle was traveling at a speed of 115 km/h at the time of the collision. The safety airbags deployed as intended, and the characteristics of the power battery pack operated normally, it said.

The family is reported to have bought the car just three months before the tragedy, and the exact cause of the accident remains under investigation, domestic media outlet 163.com reported.

The investigation results will be released soon by the local traffic management authority, said AITO.

AITO delivered a total of 31,727 cars in March, maintaining its top position among new emerging automotive brands for the third consecutive month, according to data released by AITO in April.

The "Intelligent Hand – Golden Phoenix · Yishu 8 Sino-French Craft Exchange Program" announced this year's winner on Saturday. Hua Yong, a handicraft artist who graduated from the Academy of Arts & Design at Tsinghua University, was named the winner of this year's award among the 19 shortlisted artists. 

With wood as its theme, the program aims to explore new contemporary expressions of this ancient craft. Minister Counsellor for Culture, Education and Scientific Affairs of the French Embassy in China Nicolas Pillerel and other guests were present for the ceremony.

In addition to a prize of 20,000 yuan ($2,900), Hua will also have a two-month residency and a solo exhibition at the Cité Internationale des Arts in Paris as well as an exhibition at the Art 8 Beijing Art House. 

Hua said she felt honored to receive the award. She said she looked forward to seeing traditional Chinese craftsmanship “bursting into new life in Sino-French exchanges. I hope that craftsmanship, as a borderless language, can transform the crystallization of ancient Eastern wisdom into contemporary life through design." 

This event was part of the China-France Year of Culture and Tourism, showcasing the creative achievements of Chinese and French artists, and paying tribute to the 60th anniversary of the establishment of diplomatic relations between the two countries.

Police have been called in to campuses to arrest demonstrators in several US universities as student protests over the Palestine-Israel conflict have widened in recent days. Chinese experts said the intensifying protests are likely to put the Biden administration in deep quagmire as they reflect US society's boiling anger over the administration's Middle East policies. 

Moreover, the young people's dismay will deal a heavy blow to Biden's reelectionas the incumbent president relies heavily on their support, observers said.

Protests have been bubbling for months, but kicked into a higher gear after more than 100 pro-Palestinian demonstrators who were camped out on Columbia University's upper Manhattan campus were arrested last week, AP reported. 

Columbia University officials warned Tuesday (US time) that the ongoing encampment is in violation of university rules and university officials have met with student organizers to discuss the situation, according to CNN. 

A Chinese student studying at Columbia University told the Global Times on Wednesday that the protest organizer is asking people to re-join the protest, despite some arrests. Some students are holding signs saying "empathy for all," and students from the history department offer a QR code directed to the history of Palestine-Israel conflict. 

"In Columbia University, and basically all I hear is sympathy for the people in Gaza. Supporting Palestine is almost a political correctness at Columbia, the only difference is the degree of support. I hardly ever hear anyone actively supporting Israel," said the Chinese student, who requested anonymity. 

The protests are still expanding with a number of encampments now in place at universities including Columbia, Yale, and New York University. Police have been called in to several campuses to arrest demonstrators, according to Reuters.

Overall, public fury over the US government's support for Israel and its policy in the entire Middle East is boiling over. The widening student protests will have an impact on government policies, Lü Xiang, research fellow at the Chinese Academy of Social Sciences, told the Global Times on Wednesday. He said the Biden administration is mired in a dilemma as continuing to support Israel's actions in Gaza will definitely lead to more bloody scenes that will shock the public.

"The ongoing student protests is reminiscent of the massive anti-war movement against US involvement in the Vietnam War, although the current scale is not yet comparable," Lü said.

Chinese experts also said that the growing protests could deal a heavy blow to Biden's reelection, as the incumbent US president relies heavily on young voters. If the demonstration activities worsen, and lead to violence, or even evolve into student protests against the US government, it will greatly impact Biden's reelection, said experts. 

According to the Harvard Youth poll conducted in March, Biden is losing support among young voters, as his handling of the Palestine-Israel conflict and other issues have spurred dissatisfaction among the group. The poll found that more young Americans think Israel's actions are unjustified, rather than justified. 

Biden is facing a dilemma where he cannot afford to lose voters while also needing to continue supporting Israel. Both balancing efforts have proved to be difficult, Lü noted. 

Experts said as the US presidential election looms closer, front pages in the US media are dominated by the university protests and Republican presidential nominee Donald Trump's trial. These incidents indicate that the US society will be further torn apart and will become more divided before and after the election. 

China on Friday markedly sharpened its criticism of the US' accusation of overcapacity in China, saying that the claim, while sounding like an economic concept, is a disguise for its malign attempt to curb China's industrial development and amounts to economic coercion and bullying, and urged Washington to be prudent in words and deeds and refrain from imposing additional tariffs.

The latest remarks from Chinese officials underscored their intensifying efforts to counter some US and European officials' attempt to create a pretext for taking further protectionist and punitive actions against Chinese products and firms, while also calling for global cooperation and dialogue to tackle global issues such as production capacity, experts noted.

Notably, Chinese top leaders have also commented on the production capacity issue over the past week.

On Tuesday, President Xi Jinping met with German Chancellor Olaf Scholz in Beijing. During the meeting, Xi said it is important for the two countries to stay vigilant against the rise of protectionism, adopt an objective and dialectical view on the issue of production capacity through a market and global perspective and based on the laws of economics, and devote more efforts to discussions on cooperation, according to Xinhua.

Also on Tuesday, during talks with Scholz, Chinese Premier Li Qiang offered a detailed response to claims of overcapacity. Li stressed that the issue of production capacity should start from economic laws and be viewed objectively and dialectically from a market viewpoint and a global perspective, Xinhua reported.

China's new-energy industry has gained advantages through self-improvement and sufficient market competition, rather than government subsidies, Li said. He expressed hopes that the EU side will uphold market-oriented and fair principles, and prudently use trade remedy measures.

The remarks clearly demonstrate China's approach of addressing global challenges through cooperation, rather than politicization of economic and trade issues and protectionism, experts said.

"The remarks are aimed at urging all parties to tackle global challenges through cooperation, instead of looking at some issues from one's own self-interests," Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Friday.

But as US officials continued to hype "overcapacity" claims and even threatened to impose tariffs and other actions against Chinese products, Chinese officials also ramped up their pushback against the accusations. This week, US Treasury Secretary Janet Yellen, who focused on the overcapacity accusations during her trip last week, even threatened that the US wouldn't take "anything off the table," including additional tariffs on cheap goods from China.

Commenting on the US' accusation of overcapacity at a regular press briefing in Beijing, Lin Jian, a spokesperson for China's Foreign Ministry, said that such claims are not new, as the US has long accused China of overcapacity due to its exports of a large amount of high-quality, affordable products to the world.

"The so-called overcapacity claim raised by the US seems to be an economic concept, but behind it is a vicious attempt to curb and suppress China's industrial development. It aims to seek a more favorable competitive position and market advantage for itself. It is blatant economic coercion and bullying," Lin said.

Also on Friday, Lin responded to US President Joe Biden's calls for substantially higher tariffs against Chinese steel products during a speech in the US steel production base of Pittsburgh on Wednesday. Biden also accused China of offering subsidies to expand steel production capacity, which harms US businesses.

In response, Lin said that the claims made by the US side are completely untrue and could harm China-US economic and trade relations. "China is seriously concerned and strongly dissatisfied with this," he said, "China will take all necessary measures to resolutely defend its rights and interests."

Dangerous narrative

The intensifying pushback from Chinese officials against the accusations both reflected their respect for market laws, as well as efforts to safeguard not only China's interests but the stability of the world economy, Zhou said. "If the US continues to mislead the public on this issue, it will be very detrimental to global economic and trade cooperation and recovery," he said.

US officials' accusation of overcapacity has been harshly criticized by economists both in China and abroad as being in defiance of economic laws.

Lü Xiang, a research fellow at the Chinese Academy of Social Sciences, told the Global Times that the groundless allegation of "overcapacity" by some US politicians defied economic rules, and was aimed at providing a cover for US companies with backward capacity, such as those that make internal combustion engine cars.

"Taking electric cars as an example, the current global capacity cannot meet the surging demand of the global transformation for new energy, and there is about 70-80 percent room for growth in the sector," said Lü.

According to estimates by the International Energy Agency, global demand for new energy vehicles is projected to reach 45 million units by 2030, 4.5 times the figure from 2022. Similarly, global demand for newly installed photovoltaic capacity is expected to reach 820 gigawatts by 2030, approximately four times the 2022 level, according to media reports. For solar panels, the demand for newly installed capacity will likely quadruple. These figures mean the current level of production capacity for new-energy products lags far behind demand.

This highlights significant potential demand for new energy products in many developing countries, experts said.

The overcapacity accusation also puzzled some Western economists. Nicholas Lardy, a senior fellow at Washington DC-based think tank the Peterson Institute for International Economics, told Xinhua last week that the concept of excess capacity is "potentially harmful."

Lardy noted that there is no way of measuring overcapacity, and the US' suggestion that no country should produce more of a product than could be sold domestically does not make sense.

"So Boeing should cut its production? US soybean farmers should limit their production to what can be sold within the US? The US appears to have a comparative advantage in these products so why shouldn't Boeing and US farmers produce more than can be absorbed domestically, with the 'excess' exported?" he said.