Next-gen clean tech key to China's carbon neutrality goal

The clean (new) energy industry contributed 11.4 trillion yuan ($1.6 trillion) to China's economy last year, accounting for 9 percent of the country's GDP and contributing 40 percent to its GDP growth.

The clean energy industry has been one of the main drivers of China's economic growth, and the country has made significant progress in virtually all major areas of clean energy.

According to a report by the International Energy Agency, China's solar and wind energy sectors have seen unprecedented growth in recent years. In 2023, for example, China commissioned as much solar photovoltaics as the world did in 2022, while its wind power additions grew by 66 percent year-on-year. By the end of 2023, the share of renewable energy in China's total installed power generation capacity had exceeded 50 percent, surpassing thermal power generation capacity for the first time.