China's Clean Energy Sector Drives 40% of 2023 GDP Growth

Investment in Clean Energy Technologies Reached $890 Billion Amid Real Estate Crash

China's clean energy sector contributed to 40% of the country's economic growth in 2023, replacing the void left by the real estate crash.
Investment in clean energy technologies in China reached 6.3 trillion yuan ($890 billion) in 2023, a 40% increase from 2022.
Without the clean energy sector, China's GDP growth would have been 3% instead of the recorded 5.2%.
China's lead in EV and solar panel manufacturing is impacting markets globally, with concerns over Beijing's cheap prices warping the market.
Despite the rise of the clean energy sector, China continues to face economic challenges including a deflation problem, stunted consumer demand, and capital flight among foreign investors.