At the recent 2024 Beijing International Automotive Exhibition, dazzling new electric vehicles featuring state-of-the-art green and smart technologies captivated visitors from both home and abroad, highlighting the eye-popping pace at which the industry has grown in China.
China’s thriving clean energy industry exemplifies the country’s transition to high-quality development, allowing people to better understand the unstoppable growth of China’s advanced capacity and the importance of upholding the new development model.
As China’s economy enters a new stage of development, a shift to high-quality development is crucial for sustained and healthy economic growth.
China has reached a critical stage in transforming its growth model as the country faces challenges such as rising labor costs, growing constraints from resources and the environment, and impediments in economic flows.
Only by pursuing high-quality development, not least by shifting the growth model with a focus on innovation and quality improvement, will China be able to overcome the shortcomings of the traditional development model and achieve long-term, sustained, and healthy development in an ever-evolving world landscape.
Green is a signature of China’s high-quality development. Pursuing such development, a microcosm of China’s new development philosophy, accords with the global trend of green transition, and boosts China’s efforts to ease resource restrictions, tackle environmental challenges, and achieve sustainable development.
Telling feats through years of exertion are, among others, that China now boasts nearly half of the world’s installed photovoltaic power generation capacity; that more than half of the world’s new energy vehicles are driven in China; and that a quarter of the world’s growth in new forested areas is from China.
It is estimated that China’s green and low-carbon development will create a huge increase in economic growth and nurture a 10-trillion-yuan (about 1.4 trillion U.S. dollars) market for investment and consumption each year.
Globally, China’s advanced capacity makes a substantial contribution to the global response to climate change and green transformation.
China’s reach in the wind power and photovoltaic markets extends across more than 200 countries and regions, significantly driving down the global cost of clean energy adoption. In addition, collaborative endeavors in green energy ventures with over 100 nations have facilitated greater accessibility and affordability of local electricity supply.
In face of the prevailing green trend worldwide, Washington has been perversely hyping up the so-called “Chinese overcapacity” in the clean energy sector, one of its underhand tricks and ruses to stymie China’s rise in the global industrial and value chain by slinging mud at China’s high-quality growth.
A firm advocate as well as a dedicated practitioner of green development, China will, as always, stay the course to push for high-quality development and high-level opening-up, thereby ensuring its steady, long-term economic growth and making fresh contributions to the global economy.