ECONOMY

Caixin Summit: Misconceptions About China’s Industrial Policy Fuel Protectionism, Economist Says

Published: Nov. 13, 2025 3:20 p.m. GMT+8

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Zhang Bin, a deputy director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, speaks at the 16th Caixin Summit on Nov. 13. Photo: Caixin

Some countries’ belief that China’s industrial competitiveness is mainly a product of massive state support is a misunderstanding that fuels protectionism and causes them to miss out on opportunities, according to a leading Chinese economist.

Speaking at the 16th Caixin Summit Thursday, Zhang Bin, a deputy director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, argued that this narrative should be changed to one focused on cooperation.

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Chinese economist Zhang Bin argues that China's industrial competitiveness is driven more by market competition, global integration, a large domestic economy, and strong infrastructure than by state support.
Zhang suggests that Western perceptions of Chinese state intervention fuel protectionism and urges a shift toward cooperation and understanding of real growth factors.
He recommends China expand domestic demand and imports to balance trade, while emphasizing global consumer benefits and advocating deeper international collaboration.

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