NANJING, March 1 (Xinhua) – The assembly plant of Li Auto in Changzhou, Jiangsu Province, is witnessing a transformative wave as over 3,000 auto parts are systematically collected and assembled into various new energy vehicles (NEVs). The success of Li Auto, which delivered 376,000 cars in 2023, marking a 182.2 percent year-on-year increase, reflects the thriving new energy industry in the Yangtze River Delta.
Changzhou, now hailed as the “capital of new energy,” has become a manufacturing hub, generating approximately 768 billion yuan (about 108.1 billion U.S. dollars) in output value from the new energy industry. Chen Jinhu, Party chief of Changzhou, envisions the city evolving into a world-class new energy industry highland, targeting an output value exceeding one trillion yuan by 2025.
China’s green energy transition is evident not only in Changzhou but also across the nation. Jiangsu, an economic powerhouse, plans to establish two offshore clean energy bases with a 10-GW generating capacity each by 2027. Regions traditionally associated with coal production, such as Inner Mongolia and Shanxi, are also investing significantly in new energy development to enhance the energy mix and reduce carbon emissions.
These initiatives contribute not only to the development of green productive forces but also align with China’s dual carbon goals of peaking carbon emissions before 2030 and achieving carbon neutrality before 2060.
China’s new energy industry has experienced robust growth, emerging as a global leader in NEV sales for nine consecutive years, holding over 60 percent of the global market share. The nation also plays a crucial role as a major supplier of wind and solar power equipment and power batteries, significantly impacting the global renewable energy landscape.
With exports of lithium-ion batteries, photovoltaic products, and NEVs totaling 1.06 trillion yuan last year, a 29.9 percent year-on-year increase, China continues to demonstrate its technological prowess and market influence.
Risen Energy, a leading photovoltaic manufacturer, operates a 15-GW production base in Anhui Province, exporting 70 percent of its solar cells and modules globally. The company contributes to providing clean energy on a global scale, aligning with China’s commitment to environmental sustainability.
China’s energy transition progress is evident in the National Energy Administration’s data, revealing a total installed capacity of renewable energy exceeding 1,516 GW by the end of last year. This accounts for 51.9 percent of the country’s total installed power generation capacity and nearly 40 percent of the global installed capacity of renewables.
Lin Weibin, an expert from the China Energy Research Society, emphasizes that as China adjusts its industrial and energy structures, the cultivation of more green productive forces is anticipated. This shift creates a win-win scenario by reducing carbon emissions and promoting economic growth simultaneously.