China will not export excess capacity via “Belt and Road” scheme says industry minister

Vastavam web: China will not export its excess capacity to countries involved in its “Belt and Road” initiative and will endeavor to not repeat problems it made in the course of its own development, the country’s industry minister said on Monday.Miao Wei, the head of China’s Ministry of Industry and Information Technology told the China Development Forum in Beijing that excess capacity that had been cut “will not return”.

China has been increasing its investments in countries that are part of its Belt and Road initiative, which envisages improving trade and transport links between China, Southeast Asia, Africa and Eurasia.Apart from new expressways and ports, these projects have also included coal-fired power plants and oil pipelines.