BEIJING, May 30 -- China firmly opposes any form of unilateralism and protectionism, the Chinese Ministry of Commerce (MOC) said on Thursday.

The "overcapacity" hype and the accusations of China's so-called "non-market policies and practices" by some countries are typical examples of double standards, which are essentially unilateralism and protectionism and will inevitably undermine genuine fair competition and disrupt the international economic order, MOC spokesperson He Yadong told a briefing.

He noted that China's subsidy policy conforms to the World Trade Organization (WTO) rules and there are no prohibited subsidies stipulated by the WTO.

Chinese products are cost-effective and competitive, and achieve a competitive market edge through full market competition, rather than relying on government subsidies, according to He.

China has been continuing its efforts to create an open market with fair competition, and its leading enterprises in the fields of the new energy industry, the platform economy and consumer electronics are mainly private enterprises, He said, adding that, in 2023, foreign-funded enterprises accounted for 30 percent of China's imports and exports.

China has always adhered to the principle of genuine fair competition and strived to create a high-standard market system, fostering a market-oriented, rule-based and internationally recognized premier business environment, while continuously promoting technological innovation and industrial advancement to achieve common progress and development, He said.