Overview

• 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.