私人订制

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    Tian Xuan Photo: Courtesy of Tian
In economic theory, "overcapacity" - for which no universally accepted definition exists - is inherently a recurring feature of the market economy's dynamic "balance - imbalance - rebalance" cycle. The Western narrative that equates China's sizable production capacity directly with "overcapacity" defies economic logic and rigor; in reality, it represents a politicization of trade and economic issues.
First, it confuses the concepts of "capacity scale" and "overcapacity." China's overall industrial capacity utilization remains within a reasonable range. Periodically lower utilization in traditional sectors reflects a normal adjustment as these industries advance toward high-end, intelligent, and green production. Ample capacity in certain emerging industries is precisely what meets surging global demand for high-end, smart, and green solutions. Therefore, equating scale with excess is typical equivocation.
Second, "overcapacity" itself is a dynamic feature of market economies, where no fixed balance persists indefinitely. Judging capacity based solely on static snapshots violates basic economic principles.
Third, it is erroneous to simplistically link trade surpluses or industrial subsidies to overcapacity, while ignoring the macro context of global specialization and cross-border savings-investment structures. It also disregards the reality that reasonable capacity utilization ranges differ across economies at varying stages of development. Imposing a single standard on China is neither scientific nor rigorous.
China's global competitiveness in green technology stems from sustained, large-scale investment in innovation, a comprehensive industrial and supply chain system, massive application scenarios, and intense market competition - not from alleged government subsidies. After decades of long-cycle R&D, Chinese industries have achieved breakthroughs in core technologies such as power batteries and photovoltaic modules.
During the 14th Five-Year Plan period (2021-25), China's nationwide R&D spending grew at an average annual rate of 10 percent. Economies of scale have continuously diluted production costs. China's ultra-large domestic market and full-chain supporting ecosystem provide an optimal testing ground for new technologies - from pilot verification to mass deployment. With more than 200 million market entities driving fierce competition, enterprises are constantly compelled to cut costs, raise efficiency, and upgrade products, thereby forging dual advantages in price and performance that we see today.
There is no direct causation between subsidies and overcapacity. Industrial subsidies are a globally recognized practice, typically aimed at correcting market failures and advancing critical technologies. China's subsidies are granted on an impartial basis to all types of market entities, in full compliance with WTO rules, and have not triggered disorderly capacity expansion.
Currently, capacity utilization in China's green industries remains within a reasonable range. Support is primarily directed toward R&D, technological breakthroughs, and consumer-side incentives through market-based mechanisms - not toward fueling overcapacity. Crucially, China's high-quality capacity has reduced the global cost of green transition, representing an opportunity rather than a shock to world development.
Against the backdrop of global carbon neutrality goals, labeling China's new energy capacity as "overcapacity" is entirely untenable. According to the International Energy Agency, global data center electricity consumption will approach 1 trillion kWh by 2030, with 40 percent of incremental power needing to come from renewables. Demand for wind power, photovoltaics, power batteries, and related green energy solutions remains far from saturated - so claims of "overcapacity" are groundless.
China's capacity plays a central role in advancing the global energy transition. Over the past decade, the levelized cost of electricity from wind and solar globally has fallen by more than 60 percent and 80 percent respectively - improvements largely attributable to Chinese innovation and manufacturing, which have directly lowered the cost threshold for worldwide green transformation.
The US journal Science crowned the global renewable energy surge led by China among its Top 10 Breakthroughs of 2025. Leveraging its technological and scale advantages, China is well positioned to supply abundant, high-quality green energy equipment and solutions, meet fast-growing renewable demand from data centers, industrial production, and other sectors, and tangibly support countries in implementing the Paris Agreement. In short, China is a pivotal force driving the global low-carbon transition.
The so-called "China Shock 2.0" is fundamentally a protectionist narrative rooted in Cold War thinking - a politically motivated claim inconsistent with facts. The rapid development of China's modern industries is driven by innovation and sustained institutional reform, not by dumping allegedly excess capacity abroad. Rather than posing a shock, China's industrial progress offers a "China Opportunity 2.0." It delivers multiple dividends to global development - innovation dividends, market dividends, and growth dividends - while injecting stability and vitality into global industrial chains through an open and win-win approach.
China's high-quality green and high-tech exports have tangibly accelerated the global green transition and reduced production costs worldwide. Meanwhile, as the world's largest goods consumption market and the second-largest importer for 17 consecutive years, China provides enormous market opportunities for economies around the globe. Moreover, China's open-source collaboration and technology sharing in frontier fields such as artificial intelligence and the digital economy enable developing countries to bridge the digital divide at lower cost and share in the benefits of the technological revolution.
The facts demonstrate that China's emerging technologies and products represent a "China Opportunity 2.0" - driving global technological progress, accelerating the green transition, improving livelihoods across nations, and bolstering the industrialization of developing economies. This open and mutually beneficial cooperation stands as the true engine of global economic recovery and sustainable development. 
This article is compiled based on an interview with Tian Xuan, dean at the Guanghua School of Management and Boya Distinguished Professor of Finance of Peking University. [email protected]

。          　　近日，在安徽合肥庐阳区女人街上，一位卖老上海软蛋饼的33岁湖北黄石小伙王贤黄，持续受到关注。他开业不到一个月的小店生意火爆异常，全国各地的网友纷纷下单支持，因订单太多，他不得不关闭线上外卖。

B | 线下门店同样客流量激增，从清早开门，到深夜打烊，店外总有人在排队点单付钱。

C |      　　生意的火爆，还要从一周前的8月17日说起。那天早上，王贤黄收到一份外卖订单，其备注栏里写着：“小孩化疗吃，不要海带丝、生菜，麻烦弄成一半不辣，一半辣点。”看到这行字，王贤黄心有触动，觉得堵得慌：“一个饼分两半吃，孩子还在化疗，这家人经济、心理压力肯定都大。”他按要求备餐，额外加了两杯豆浆，还在餐盒里悄悄放了100元现金，祝愿孩子早日康复。     　　让王贤黄没想到的是，患儿家长收到外卖后，将此事分享到了社交平台：“真的被陌生人的善意破防了，孩子化疗点的一份外卖，打开盒子，里面多了100块钱。

D | 素未谋面的商家，默默心疼生病的小朋友，人间总有细碎的温暖，照亮艰难的日子，谢谢陌生的好心人，愿善良的人平安顺遂。

E | ”      　　之后发生的一切，更是出乎黄贤黄的意料。

F | 他没想到，自己不经意间做的一件小事，能引爆网络。网友们的点赞和暖心回应汹涌而来，他的一条回应视频获得了300多万的点赞。外卖订单从全国各地而来，不少订单直接标注，“本人不在合肥，这份饼麻烦直接给接单骑手吃，用来支持善良的老板!”“支持老板，不要配送，自行处理，祝生意兴隆!”“我在新疆，山水迢迢，但也被善良的老板温暖到了。

G | 不用制作餐食，仅以此表达敬意，祝生意兴隆，好人一生平安!”      　　8月23日，极目新闻记者来到合肥，见到了“煎饼哥”王贤黄。      “煎饼哥”王贤黄(极目新闻记者现场拍摄)　　做25个饼才能挣100块钱      　　极目新闻：看到那个备注，当时你是什么感受?      　　王贤黄：我当时还是有点难受的，心里堵得慌。因为他的备注写得太明显了，是吧?两个人吃一个饼，小孩又生病，这个就已经够明显表达出他生活的窘迫了。

H |      患儿家属下单时的备注(视频截图)      　　极目新闻：为何要在外卖里放100元钱?      　　王贤黄：我经常刷到视频，就是一些医院里，因为病房比较紧缺嘛，家长都是睡在走廊过道或椅子上面。我看到过一个评论，说如果父母能够代替孩子的病痛，可以用自己的命去换小孩子的命，那么天下所有的孩子都会健康快乐长大。我当时看到这句话的时候，我真的泣不成声，我真的哭了很久。真正遇到这样的家庭了，那我肯定要尽自己的能力帮助一下嘛。      王贤黄往餐盒里塞了100元现金(视频截图)      　　极目新闻：你一天能挣多少钱?100块钱，你要卖多少个饼才能挣回来?      　　王贤黄：我这个店在这条街最靠后的位置，又是一个新店，没有什么知名度，那个时候一天下来只能保本。

I | 100块钱差不多要卖25个饼能挣回来。我是看了他的备注，觉得他应该很有难处，比较困难，我就想着放100块钱。当时没想到那么多，只想帮助一下别人。

J | 　　订单太多关掉外卖      　　极目新闻：订单是什么时候开始暴涨的?      　　王贤黄：我做那件事情的时候是8月17日，然后到了18日中午11点多，那个时候店里没生意，我还趴在那里睡觉。然后，有记者给我打了电话，问我有没有这个事情(给患儿外卖里塞100块钱)。然后我说，有啊，他就跟我讲说，这个事情在网上引起了很多关注，说我这个事情爆了。

K | 我当时就想，爆了就爆了，我没想那么多。     　　到了下午3点钟的时候，来了第一个订单，他说他看抖音过来的，说给我一个支持，支持我的爱心，然后餐不用出。我还把这个事情发到朋友圈，发到我几个同事的群里面去了。然后过了一会儿，那个订单猛爆，然后我很开心。

L | 我一边做一边开心，一边做一边笑，一边做一边笑。后来到了第二天，我一边做一边哭，一边做一边哭。      　　网友下单留言备注的单子，王贤黄都保存着(极目新闻记者现场拍摄)      　　极目新闻：为什么第一天一边做还一边笑，到了第二天就是一边做一边哭了?      　　王贤黄：因为我欠这么多债啊，生意不好，一下子来这么多单，能不开心吗?但是后面到第二天，那个订单越来越多，来自全国各地，看到那个备注我就不忍心了，我就难受，我觉得在消费别人的善良啊，我就一边做一边哭。     　　然后还有人到线下来买，他说看那个抖音过来的，那我就更感动了。

M | 我说好人太多了，善良的人太多了。　　网友呼吁王贤黄恢复外卖平台      　　极目新闻：为什么后来要关掉外卖?有很多网友让你开外卖。

N |      　　王贤黄：虽然说这个是一个很大的流量，但是我在挣钱的同时不能去影响别人。第一是合肥本地真实点餐的人受到影响，单子多了出餐就慢了，骑手送过去餐有可能凉了，会影响他们的体验。再一个，单子多了做不出来，但单子一直在骑手手上挂着，他接不了别的订单，他可能一个小时等你这一个餐，才挣几块钱，那他喝西北风啊。你不能因为自己的利益去影响到别人，所以我选择把这个外卖关停了。等我这个流量下去了，我可以做这个外卖了，我再把外卖打开。

o |      　　极目新闻：你在自己的视频里说，这是第五次创业，已经负债累累，还欠多少外债?有评论说，你创业失败是因为你太实诚，太善良了，你怎么看这个事?      　　王贤黄：还欠二三十万元，只会多不会少，我不是在赖账，我在努力。

p | 做生意的话，要做的就是一个诚信，无诚信而不立。我想要做的是长久的生意，长期的生意。我相信好人有好报。