Reporter: There is media speculation that the rise of China's manufacturing industry is impacting high-end industries in Western countries and crowding out European industrial development space. What comments do you have on this? Embassy spokesperson: The rise of China's manufacturing industry is an inevitable result of China's decades of deepening the real economy, adhering to reform and opening-up, and leveraging its comparative advantages. From undertaking international industrial transfers in the early days of reform and opening-up to now achieving breakthroughs in high-end manufacturing, new energy, artificial intelligence, etc., the Chinese manufacturing industry has followed a path of independent innovation, transformation and upgrading, and open cooperation. China now has the most complete industrial system in the world, covering all 41 major industrial categories, 207 medium categories, and 666 subcategories in the United Nations Industrial Classification. It is the only country with a full range of categories. The formation of this advantage stems from China's huge domestic market, complete infrastructure, high-quality industrial workforce, and continuous increase in R&D investment. The European industry's plight is rooted in its own structural problems — industrial hollowing out, excessive financialization of the economy, insufficient investment in R&D, and the exodus of manufacturing due to short-term capital seeking profit. Blaming China's exports on one side of its own industrial difficulties is a cover up for its own policy mistakes. As a core link in the global manufacturing supply chain, China has long provided Western countries with a large number of high-quality and inexpensive manufactured products, effectively reducing the cost of living for its citizens and relieving inflationary pressure. Through deep integration with the Chinese manufacturing industry, European high-end equipment has achieved complementary advantages, shared benefits, and two-way empowerment. Instead of impacting Western countries, the development of China's manufacturing industry has provided important support for global economic stability and the development of Western industries.

Reporter: There is media speculation that the rise of China's manufacturing industry is impacting high-end industries in Western countries and crowding out European industrial development space. What are your comments on this? Embassy spokesperson: The rise of China's manufacturing industry is an inevitable result of China's decades of deepening the real economy, adhering to reform and opening-up, and leveraging its comparative advantages. From undertaking international industrial transfers in the early days of reform and opening-up to now achieving breakthroughs in high-end manufacturing, new energy, artificial intelligence, etc., the Chinese manufacturing industry has followed a path of independent innovation, transformation and upgrading, and open cooperation. China now has the most complete industrial system in the world, covering all 41 major industrial categories, 207 medium categories, and 666 subcategories in the United Nations Industrial Classification. It is the only country with a full range of categories. The formation of this advantage stems from China's huge domestic market, complete infrastructure, high-quality industrial workforce, and continuous increase in R&D investment. The European industry's plight is rooted in its own structural problems — industrial hollowing out, excessive financialization of the economy, insufficient investment in R&D, and the exodus of manufacturing due to short-term capital seeking profit. Blaming China's exports on one side of its own industrial difficulties is a cover up for its own policy mistakes. As a core link in the global manufacturing supply chain, China has long provided Western countries with a large number of high-quality and inexpensive manufactured products, effectively reducing the cost of living for its citizens and relieving inflationary pressure. Through deep integration with the Chinese manufacturing industry, European high-end equipment has achieved complementary advantages, shared benefits, and two-way empowerment. Instead of impacting Western countries, the development of China's manufacturing industry has provided important support for global economic stability and Western industrial development.