The development of China's new energy industry contributes to the global green and low-carbon transformation

Editor's note

Recently, various parties at home and abroad have paid attention to the production capacity of China's new energy industry. In this regard, we must adhere to the market vision and global vision, proceed from the economic law, and look at it objectively and dialectically. In the context of economic globalization, the key to judging whether there is overcapacity in related fields depends on the demand and future development potential of the global market. China's exports of electric vehicles, lithium batteries, photovoltaic products, etc., not only enrich global supply and alleviate global inflationary pressure, but also make great contributions to the global response to climate change and green and low-carbon transformation. Recently, we will push a series of comments through this column to help all parties better understand the development status and trend of the new energy industry.

Addressing climate change is a common challenge facing all mankind and is related to the future of mankind. In recent years, China has vigorously promoted the construction of a beautiful China, strengthened the governance of ecological and environmental protection, accelerated the green and low-carbon transformation of its development mode, conscientiously fulfilled international conventions, and took the initiative to undertake environmental governance obligations that are commensurate with its national conditions, development stage and capabilities, demonstrating its responsibility as a responsible major country. The development and growth of China's green industries such as new energy vehicles, wind power, and photovoltaics is the result and embodiment of taking the initiative to respond to the requirements of global green and low-carbon transformation and assume the responsibility of carbon reduction as a major country. At present, the task of global green and low-carbon development is urgent and arduous, and there is still a huge green capacity gap to achieve the 2030 emission reduction target, which requires all countries in the world to give full play to their comparative advantages, division of labor and cooperation, and joint efforts, and China's new energy industry will be an indispensable backbone.

Global climate change: huge demand for green development and insufficient green production capacity

In recent years, the impact of climate change on the economic, social and ecological fields of various countries has become increasingly prominent, and extreme weather events such as high temperatures, droughts, floods, and typhoons have occurred frequently. The World Economic Forum's Global Risks Report 2024, released in January this year, listed "extreme weather events" as the second largest risk facing the world in the next two years and the top risk in the next decade.

In response to global climate change, the international community has adopted a series of policies and actions, and has made some progress. At the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) held at the end of last year (COP28), the host country, the United Arab Emirates, and relevant countries launched an initiative to triple the global installed renewable power generation capacity by 2030 and double the average annual improvement rate of global energy efficiency to achieve the goal of limiting global temperature rise.

According to the Renewable Energy Capacity Statistics 2024 released by the International Renewable Energy Agency, 473GW of new renewable energy capacity will be added globally in 2023, while the annual renewable energy capacity required is close to 1,100GW. The current installed capacity is still far from the target of 11,000 GW of additional capacity by 2030. At the same time, the progress of global transportation electrification in 2023 is also not up to standard, and to achieve the global temperature control goal, the current electric vehicles still have huge room for improvement in terms of both ownership and increment.

China's new energy industry: a contributor and new force of the world's advanced green production capacity

China is a staunch practitioner of its commitment to addressing climate change, and has made unremitting efforts to write the "Chinese answer" to the question of green development with concrete actions and tangible progress and results. Over the past decade, China has developed into the world's largest manufacturer of new energy equipment and the use of new energy. According to the International Renewable Energy Agency, China contributed more than half of the world's new renewable energy capacity in 2023, making a significant contribution to the growth of global renewable power generation. At the same time, China's wind power and photovoltaic products have been exported to more than 200 countries and regions around the world, helping these countries and regions, especially developing countries, to obtain clean, reliable and affordable energy.

In the face of a huge gap in global green production capacity, China's existing new energy capacity is not excessive, as some people say, but far from enough. In order to respond to global climate change, a common challenge for mankind, China has the ability and responsibility to give full play to its advantages in the new energy industry, and while vigorously promoting its own clean energy development, China will contribute more Chinese technologies, Chinese products and Chinese solutions to the world, and make greater contributions to the global clean energy development.

To provide affordable and high-quality green products to the world. China's super-large-scale market and complete industrial system provide good conditions for relevant production enterprises, and China's new energy industry provides a large number of high-quality and efficient products for the world, especially the vast number of developing countries, and accelerates the global green transformation.

Provide technical assistance for global energy efficiency improvement. China has built the world's largest and most complete new energy industry chain, and new energy vehicles, lithium batteries and photovoltaic products are widely welcomed by the international market. In 2023, the conversion efficiency of China's mass-produced advanced photovoltaic cells will reach 25.5%. The megawatt wind turbine has formed a number of mature technical routes that have reached the international advanced level. The power battery for new energy vehicles ranks among the top in the world in terms of battery energy density, life and safety and other technical indicators. China's global provision of high-quality services and technical support has significantly improved access to new energy technologies, helping to achieve the goal of doubling the average annual rate of global energy efficiency improvement by 2030.

Contribute to the stability of the global green industry chain. While vigorously promoting the development of the domestic new energy industry, China has continuously strengthened international cooperation. Overseas new energy investment by Chinese enterprises covers wind power, photovoltaic power generation, hydropower and other fields, which has strongly supported the green transformation and green industry development of relevant countries and regions. In terms of equipment manufacturing, China has cultivated a number of world-class energy equipment manufacturing enterprises, 4 of the world's top 5 wind power enterprises, and 6 of the top 10 electric vehicle battery manufacturers, becoming an important force in stabilizing the global clean energy industry chain and supply chain. (Author: Jin Xuan, National Development and Reform Commission)

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