Overcapacity needs a global solution

International community should work as one to find answers to improve economic growth

Overcapacity is a global challenge that requires cooperation and coordination rather than finger pointing, a senior Chinese official said on Friday.

Widespread excess production capacities stems from the sluggish global economic recovery, weak global demand and ever-worsening global economic structural problems, Zhu Guangyao, vice-minister of finance, said at a news briefing ahead of the G20 Summit in Hangzhou.