"A lot of the progress that has been made so far in the field of solar panels has been made possible by China's efforts to reduce costs. The same is true in the field of electric vehicles. Recently, Amin Nasser, CEO of Saudi Aramco, one of the world's largest oil companies, said at the 26th World Energy Conference that the development of China's new energy industry has helped Western countries achieve net-zero carbon emissions and played an important role in the global energy transition.
Screenshot of the headline of the Financial Times report
When some people in the United States hyped up China's "overcapacity" and hit the global market, Nasser's fair remarks represent the rational and objective perception of the international community. What does China's green production capacity mean for the world?
Fundamentally, economic development is about improving people's livelihoods. New energy products pay more attention to green, performance and comfort, and conform to the consumer demand of the market, but at the same time, there are problems such as high cost. With the help of technological innovation and a complete industrial chain system, China has provided affordable solutions for the world and promoted the popularization of new energy products.
Take new energy vehicles as an example. According to an analysis by McKinsey & Company, Chinese EVs are about 20 to 30 percent cheaper than those produced by European manufacturers, in part because China takes only about half the time to develop new models in Europe. It can be seen that China's green production capacity provides cost-effective products for global consumers, alleviates the inflationary pressure caused by the shortage of traditional energy, and truly benefits consumers. Jeffrey Baxter, an Australian buyer who is attending the 135th China Import and Export Fair in Guangzhou, told the International Review that "the development of China's new energy industry has promoted competition on a global scale and ultimately benefited consumers".
For countries around the world, China's new energy production capacity has brought new momentum for development. At present, countries are vigorously promoting the upgrading of manufacturing industry and green and low-carbon transformation, and are in urgent need of relevant equipment and parts for the development and utilization of new energy. As the world's largest renewable energy market and equipment manufacturer, China plays an important role. Bloomberg recently published an article saying that the hope for the global energy transition is largely due to China's "provision of low-priced, clean products". Currently, China supplies 50% of the world's wind power and 80% of its photovoltaic equipment. From 2012 to 2021, China's green trade grew by 146.3%, injecting "green power" into global economic growth.
It is worth mentioning that technological breakthroughs are key in the process of energy transition. Relevant experts told the "International Review" that many countries want to achieve green development, but face bottlenecks such as immature new energy technology and difficult integration. Through innovative practices, Chinese enterprises have provided many innovative solutions to the world, and promoted the world's technological progress and industrial upgrading.
According to the data, from 2011 to 2020, the total number of invention patent applications for environmental technology in China was close to 60% of the world's, making it the country with the most active layout of environmental technology innovation. At the same time, China is advancing technological progress with other countries through open cooperation and healthy competition. Ke Ruilin, deputy general manager of the German cleaning brand Kärcher China, told the International Review that the lithium battery platform they have just launched in the world was developed in China and is being promoted to the world. Bai Luyi, CEO of Italian car company Ducati China, pointed out that China's development in new energy vehicle battery technology and engine technology is obvious to all, and companies from all over the world are cooperating with China.
More importantly, China's green production capacity has made a significant contribution to addressing the challenge of global climate change. The Paris Agreement proposes to limit the increase in global average temperature to well below 2 degrees Celsius above pre-industrial levels, and to work towards limiting warming to 1.5 degrees Celsius. However, with the frequent occurrence of extreme weather around the world, it is more difficult to achieve the temperature control goals of the Paris Agreement. According to a report released by the United Nations Environment Programme (UNEP) at the end of last year, the world will need to reduce emissions by 28% by 2030 to get on a path to 2 degrees Celsius, or 42 percent to achieve a 1.5 degrees Celsius rise.
As the world's largest developing country, China has not only pledged to achieve carbon neutrality in the shortest time in the world's history, but also continues to help the world reduce emissions. In 2022, China's exports of wind power and photovoltaic products reduced carbon dioxide emissions by about 573 million tons for other countries, with a total emission reduction of 2.83 billion tons, accounting for about 41% of the world's carbon emission reductions from renewable energy in the same period. In addition, China has helped other countries improve their capacity to cope with climate change through technical support, capacity building and financial assistance. In 2023, deep in the desert south of Abu Dhabi in the United Arab Emirates, the world's largest single solar power plant built by China will officially start operation. Once operational, the power station will provide electricity for 160,000 households, helping Abu Dhabi reduce carbon emissions by 2.4 million tonnes per year, increasing the share of clean energy in the UAE's energy mix by more than 13%.
In the face of facts, the so-called "overcapacity theory" of the United States and the West is vulnerable. As many international figures have said, protectionism in the name of "overcapacity" will only drag down the global energy transition. The real problem facing the world is not the "overcapacity" of green capacity, but the severe shortage. And China is producing what the world really desperately needs.
(International Critic)
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