China Customs: New energy products enrich global green supply

Zhao Zenglian, Deputy Director of the General Administration of Customs of the People's Republic of China believes that China's new energy products are not excessive; instead, they enrich the global green supply and contribute to China's strength in combating climate change.

"Previous claims about an alleged overcapacity in China's new energy industry are a misconception and contrary to the principles of market economy development," said Zhao.

Zhao pointed out that global electric vehicle sales are expected to reach around 45 million units by 2030, which is three times last year's global sales and five times China's production according to the International Energy Agency's estimates.

Zhao noted that last year, the total value of foreign trade imports and exports increased by more than 17 trillion yuan compared to 2012, a figure equivalent to a year's imports and exports of a leading foreign trade country. He said that in the new era, the economic pie of foreign trade has grown larger, with higher quality development and more significant value. He believes that innovation strengthens the foundation of China's foreign trade development, with green becoming a distinctive color of high-quality development.

Four out of every ten cars exported from China are electric vehicles, and nearly 90% of exported batteries are lithium batteries, said Zhao. He mentioned that regional coordinated development stabilizes the foundation of foreign trade, with major regional strategies such as the Beijing-Tianjin-Hebei region, the Yangtze River Delta, and the Guangdong-Hong Kong-Macao Greater Bay Area becoming sources of foreign trade momentum, according to Zhao.

Zhao stated that they will continue to promote policy innovation and regulatory reform in comprehensive bonded areas, optimize the customs supervision system innovation mechanism in free trade pilot zones, establish a customs supervision model that adapts to the development needs of new productive forces, and support the regulated development of new business models such as cross-border e-commerce, overseas warehouses, market procurement, and bonded maintenance.

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