On April 14, the General Administration of Customs announced that China's exports in the first quarter reached 6.85 trillion yuan, a year-on-year increase of 11.9%, with the export structure continuing to improve, as electromechanical products accounted for 63.4% of the total export value.
Among them, exports of green products such as electric vehicles, lithium batteries, and wind turbine generators and their parts increased significantly by 77.5%, 50.4%, and 45.2%, respectively. In addition, the total export value of the photovoltaic industry chain reached USD 22.17 billion in the first quarter, a year-on-year increase of 27.2%; the total export value of the energy storage industry chain was USD 8.11 billion, a year-on-year increase of 71.8%. The new energy-related industries are increasingly becoming the core engine of China's export growth.
Over the past decade, China has made significant investments in the new energy industry. This strategic shift is primarily due to China's energy resource endowment of &#34;rich in coal, poor in oil, and scarce in gas&#34;—it is essential to break free from excessive reliance on traditional fossil fuels, especially the import dependence caused by oil and gas shortages, to ensure national energy security. Secondly, it is also to align with and support global collective actions to combat climate change, fulfill commitments to environmental protection and the &#34;dual carbon&#34; goals, and accelerate the transition from fossil fuels to clean technologies and renewable energy.
Western countries have not been steadfast in implementing a green and low-carbon energy transition, leading to slow progress in investment in new energy technologies and equipment in developed countries. China is a major country firmly executing energy transition. As of now, according to the International Energy Agency, China accounts for over 70% of the global electric vehicle manufacturing industry and about 85% of global battery cell production, holding over 80% market share in photovoltaic, wind power, and energy storage sectors.
With the ongoing situation in the Middle East and the blockade of the Strait of Hormuz, the global energy supply chain crisis has made countries realize the necessity of breaking free from dependence on fossil fuels. At the same time, global investment and application of artificial intelligence (AI) have surged, driving an explosive growth in demand for data centers, with energy consumption in intelligent computing centers rising at an exponential rate. Countries urgently need to invest significantly in infrastructure such as power plants and power grids.
The combination of these two factors has led countries that heavily rely on energy imports to prepare to increase investments in renewable energy generation, battery storage (aimed at storing solar or wind energy), and power grids to enhance energy autonomy and electrification rates. China has already provided a mature template in these fields. By 2024, China's electrification rate is expected to be around 28.8%, surpassing major developed economies in the US and Europe; it is projected to reach about 35% by 2030, exceeding the average level of OECD countries by 8 to 10 percentage points.
The key to improving China's electrification rate lies in two aspects: first, transitioning from reliance on fossil fuel power generation to a modern energy system that complements multiple energy sources such as &#34;wind, solar, water, nuclear, and storage,&#34; enhancing energy autonomy and sustainability; second, going beyond simple quantitative accumulation to promote the deep integration of digital technology and power technology, constructing both ultra-high voltage power grids and a flexible system of &#34;source-grid-load-storage interaction.&#34;
Currently, Chinese enterprises have established global technological and manufacturing advantages across the entire industry chain in photovoltaic wind energy, nuclear power, ultra-high voltage technology, high-voltage cables, transformers, energy storage batteries, and electric vehicles
In the future, whether countries develop their own green power or build power plants and grids to meet the demand for artificial intelligence, they will find it difficult to bypass &#34;Made in China.&#34; Therefore, related exports in China's new energy sector are expected to maintain a sustained high growth rate.
China's advantages in the clean energy sector are systemic and strategic. In the face of the current global energy crisis and the surge in AI power demand, our country occupies a very favorable position, not only expected to further expand international competitive advantages but also capable of becoming a shaper of the new global energy landscape.
Of course, challenges still exist. Some countries want to break free from dependence on fossil fuels while also promoting &#34;local manufacturing.&#34; In response, Chinese companies are shifting from simple product exports to building factories overseas, achieving capacity and standards going abroad. It is worth noting that China's technological and manufacturing advantages in the power sector provide a higher level of bargaining power; this international interaction is not a one-way dependence on overseas markets but a two-way balance.
SFC
Produced by | 21 Finance Client 21st Century Business Herald

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On April 14th, the General Administration of Customs announced that China's exports in the first quarter reached 6.85 trillion yuan, a year-on-year increase of 11.9%. Among them, exports of green products such as electric vehicles, lithium batteries, and wind turbines saw significant growth, making the new energy industry the core engine of export growth. China holds a dominant position in global electric vehicle and battery production, driving the global transition to renewable energy. As the global energy supply chain crisis intensifies, countries are increasing their investments in renewable energy, and China provides a mature template in the fields of electrification and new energy

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21 Editorial | The Global Energy Crisis Highlights the Advantages of China's New Energy Industry