CHINA continues to assert its dominance in the global market for green technology, with record-high exports of batteries, electric cars, and solar panels, reports Bloomberg.
According to a recent report from Australia's Griffith Asia Institute, overseas sales of these products surged above US$150 billion last year, representing an increase of more than one-fifth.
However, despite a slight decline in dollar numbers in 2024, this trend is mainly attributed to falling prices rather than a drop in shipments, as Bloomberg analysed using Chinese trade data.
This export surge underscores China's pivotal role in critical green industries, which Beijing has identified as crucial for future economic growth.
The country's factory capacity has become a focal point in the global economy, polarising opinions.
While Beijing argues that its booming industries will meet domestic and international demand, facilitating a transition to cleaner energy at an affordable cost, the US and Europe voice concerns over Chinese over-production, accusing it of unfairly undercutting competitors.
Experts highlight China's well-integrated value chains, rapid innovation, and government support as key factors contributing to its dominance in these sectors.
However, rising trade tensions could disrupt trade flows, potentially prompting Chinese producers to invest overseas to navigate challenges.
SeaNews Turkey
According to a recent report from Australia's Griffith Asia Institute, overseas sales of these products surged above US$150 billion last year, representing an increase of more than one-fifth.
However, despite a slight decline in dollar numbers in 2024, this trend is mainly attributed to falling prices rather than a drop in shipments, as Bloomberg analysed using Chinese trade data.
This export surge underscores China's pivotal role in critical green industries, which Beijing has identified as crucial for future economic growth.
The country's factory capacity has become a focal point in the global economy, polarising opinions.
While Beijing argues that its booming industries will meet domestic and international demand, facilitating a transition to cleaner energy at an affordable cost, the US and Europe voice concerns over Chinese over-production, accusing it of unfairly undercutting competitors.
Experts highlight China's well-integrated value chains, rapid innovation, and government support as key factors contributing to its dominance in these sectors.
However, rising trade tensions could disrupt trade flows, potentially prompting Chinese producers to invest overseas to navigate challenges.
SeaNews Turkey
