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Is the rapid growth of China’s emerging industries driven by industrial subsidies?: People’s Daily_我的网站

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Workers assemble solar photovoltaic modules at a smart manufacturing workshop of Ronma Solar Energy Group in Jindong district of Jinhua city, East China's Zhejiang Province, on July 28, 2026. Photo: VCG
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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B | 　　中新社北京8月21日电 (记者刘亮)中国国家市场监管总局21日公布，国际电工委员会(IEC)近日公布“IEC1906奖”获奖名单，中国共有44名专家荣膺该奖项，获奖人数创历史新高。　　“IEC1906奖”设立于2004年，是为纪念IEC成立而设立的年度奖项，旨在表彰在IEC国际标准研制、技术活动及合格评定工作中作出突出贡献的活跃技术专家，是衡量各国专家在IEC技术体系中参与深度与贡献水平的重要标尺。　　2026年，全球共有来自26个国家的231名专家获奖，中国获奖人数占获奖总人数的19%。中国的44位获奖专家来自33个领域，这些领域与国家“十五五”规划战略方向高度协同。　　新型电力系统与新能源领域的专家占比约32%，覆盖电力系统运行与控制、特高压直流输电、柔性输电与电力电子、太阳能光热发电与光伏、电化学储能、抽水蓄能与水力发电、海洋能发电及并网等关键方向。　　传统产业领域占比约43%，涵盖智能制造与工业过程测量控制、低压电气与保护设备、测量继电器与保护设备、家用电器性能与安全、轨道交通电气牵引与信号通信、核仪器仪表与辐射防护等方向。　　数智化赋能与信息技术领域占比约14%，涵盖新一代信息技术、音视频与多媒体系统、智慧城市、智慧能源与交通电气化等方向。新材料领域占比约7%，涵盖纳米材料、新型显示材料、磁性材料与电子元器件、电子电路基材等方向。