China’s EVs Exports Have Enriched Global Supply, Eased Inflationary Pressure, Xi Tells Scholz

What’s new: China’s export of electric vehicles, lithium batteries and photovoltaic products has enriched global supply and eased inflationary pressure, President Xi Jinping told visiting German Chancellor Olaf Scholz during a Tuesday meeting in Beijing.

Noting that both China and Germany depend heavily on industry and are supporters of free trade and economic globalization, Xi said the two sides should “stay vigilant against rising protectionism, adopt an objective and dialectical view on the issue of capacity through a market and global perspective,” according to a statement released by the Chinese foreign ministry.