China urges US to abide by market principles

China urges the United States to earnestly abide by market principles and international trade rules, and create a sound environment for fair competition among enterprises from all countries, a Chinese foreign ministry spokesperson said on Thursday. Spokesperson Mao Ning made the remarks at a daily news briefing when answering a query on reports that US President Joe Biden said China provides subsidies to flood the US market with electric vehicles. Mao said that China’s new energy products, including electric vehicles, are gaining popularity in the international market, relying on continuous technological innovation, sound industrial and supply chains, and sufficient market competition. Their popularity is the result of the combined effect of comparative advantages and the laws of the market, and an outcome of the efforts of enterprises, instead of an outcome of so-called “subsidies”, she added.