Vice Premier Ding Xuexiang said the competitiveness of Chinese products does not come from government subsidies but stems from their 'technological advantages, sustained high levels of investment in research and development'. (EPA Images pic)SHANGHAI: China's vice premier brushed off "completely unfounded" concerns that his country was "squeezing out" other economies as he opened a major business fair on Thursday aimed at enticing importers.
The US and EU regularly accuse Beijing of heavily subsidising its industry and flooding foreign markets with its products, particularly in vehicle and green technology sectors, to the detriment of their own companies.
"Some institutions and media outlets have been hyping up the so-called 'China squeeze' theory," said Ding Xuexiang as he opened the China International Import Expo in Shanghai.
