China leads boldly in global energy transition

China has invested trillions of yuan in the clean energy equipment manufacturing sector over the past few years, but returns will depend on the success of clean energy transition both in China and the rest of the world.

In 2024, clean energy industries contributed to more than 10 percent of China's GDP, generating an estimated $1.9 trillion in economic output, becoming a key driver of economic growth and overtaking the real estate sector in sales value. Chinese companies exported an estimated $177 billion worth of clean energy technologies and committed at least $60 billion to building new factories abroad. Once completed, these facilities could generate output worth $110 billion a year.

The export of affordable solar photovoltaic panels, electric vehicles (EVs) and batteries from China is already helping many countries transition to clean energy. The regions where China's exports are having the biggest impact are the Middle East, North Africa, sub-Saharan Africa, South Asia and Europe.