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Is the rapid growth of China’s emerging industries driven by industrial subsidies?: People’s Daily_我的网站
一 |
China saw robust exports in electric vehicles (EV), lithium batteries and photovoltaic products, known as the "new three," in the first half of this year. More notably, robotics, artificial intelligence (AI) and innovative drugs, which represent the future direction of industrial development, are also emerging as new calling cards for China's foreign trade.
However, the impressive performance provoked unease among some Western media outlets and politicians. Some have deliberately portrayed China's rapid industrial development and strong competitiveness as a result of government subsidies, pushing the false claim that subsidies have created overcapacity and those low-priced Chinese products are flooding global markets. Such fallacies, which simply equate industrial subsidies with overcapacity, are not only logically flawed but also factually groundless.
In practice, many countries adopt industrial policies tailored to their national conditions and development needs, such as providing research and development (R&D) subsidies for emerging industries and risk related subsidies for agriculture.
Well-designed industrial subsidies can help address market failures, promote technological innovation and environmental protection, reduce poverty and support balanced development, rather than cause so called "overcapacity."
Multiple reports by the United Nations Conference on Trade and Development have noted that the number of industrial policies worldwide has grown rapidly over the past five years, with R&D subsidies, tax incentives and low interest loans for emerging industries becoming common international practices.
Forcibly linking industrial subsidies to "overcapacity" is, in essence, a political manipulation based on double standards. The US, for example, plans to provide $750 billion in various subsidies from 2022 to 2031 under its Inflation Reduction Act. Subsidized EVs are subject to requirements such as production and sales in the US or North America, effectively excluding other WTO members. US industrial subsidies for AI are even greater than those of all other countries combined.
Similarly, according to incomplete statistics, the European Commission is expected to provide more than 1.44 trillion euros ($210 billion) in various subsidies between 2021 and 2030. The EU's Industrial Accelerator Act links local content directly to financial support through "Made in EU" requirements, creating serious investment barriers and institutional discrimination.
Have these massive subsidies been labeled as causing "overcapacity"? The answer is no. While claiming that China's industrial subsidies lead to so-called overcapacity, these countries are themselves providing massive subsidies to their own industries. Such double standards amount to selective accusations targeting China, aimed at politicizing trade and economic issues and weaponizing industrial policy.
At a deeper level, accusations that "China's industrial subsidies cause overcapacity" are merely a pretext, reflecting growing anxiety and fear over the rising competitiveness of Chinese industries.
Looking back at the repeated hype in Western media, the criticism has consistently targeted China's most globally competitive industries, including new-energy vehicles, photovoltaics and power batteries. This exposes the real intention of shifting the blame for their own lagging industrial development onto China while stepping up restrictions against Chinese industries.
China's breakthroughs in these industries have been driven by advances in homegrown technologies, complete industrial and supply chains, and robust market competition, rather than by policy subsidies as some have claimed.
In recent years, China has taken multiple steps to regulate and improve its subsidy policies, from reviewing and correcting inappropriate local subsidies to exploring a unified negative list mechanism for local fiscal subsidies. China applies subsidies equally to all market entities, including foreign invested enterprises, strictly follows WTO rules, and continues to improve the compliance, effectiveness and transparency of its subsidy policies.
Rather than fabricating and hyping baseless claims about subsidies and obsessing over building trade barriers, certain Western media outlets and politicians should focus on addressing their own weaknesses and increasing investment in research and development. They should embrace healthy market competition with an inclusive mindset, promote mutual benefit through greater openness, and win markets and drive progress through genuine innovation.
This was compiled and translated by the Global Times English edition based on an article published in the "Chisu Jinsheng" economic commentary column of the People's Daily on August 10, 2026.
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二 | 据《光明日报》1月16日官方微博报道，国防科技改革与发展的重要推动者、先锋余敏于1月16日在北京逝世，享年93岁。于敏1926年8月出生。1944年，于敏被北京大学机电工程系录取。1946年，由于对理论物理的热爱，于民转学到理学院物理系，并以理论物理为专业。
三 | 1949年，俞敏石在张宗照任研究生兼助教。1951年以来，在中国科学院现代物理研究所任助理研究员、副研究员，在中国理论物理学家彭焕武的指导下开始了核理论的研究。
四 | 1960年底，俞敏开始研究核武器理论，突破氢弹原理，解决了热核武器物理中的一系列基础和关键理论问题。1961年，俞敏彪被任命为第二航空部参加氢弹原理的研究。
五 | 1964年10月，在邓家贤的领导下，中国第一颗原子弹成功爆炸，随后由于敏领导的研制小组于1967年研制出中国第一颗氢弹。2015年1月9日，于敏获得2014年全国最高科技奖。在2018年召开的庆祝改革开放40周年大会上，党中央、国务院决定授予郁敏等100名同志改革先锋称号和改革先锋奖章。
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