On September 26, the 2024 New Energy Industry Development Conference & Invest in Changzhou Summit commenced, attracting academicians, experts, business leaders, and financial institutions from around the world to discuss new energy sector growth and collaboration.
Key Highlights and Investments
The event marked significant progress for Changzhou, as 42 projects were signed, securing a total investment of 39.7 billion yuan, including nine foreign-funded initiatives worth 1.16 billion USD. In addition, provincial financial institutions agreed on key financing projects, with a credit total of 120 billion yuan.
Changzhou, often recognized as “China’s Capital of New Energy,” continues to expand its new energy ecosystem. The city has achieved remarkable milestones in production and innovation, particularly in electric vehicles (EVs) and solar photovoltaics. In the first eight months of 2024, Changzhou produced nearly 680,000 new energy vehicles, placing it at the forefront of national investment in this sector. The city’s comprehensive industrial chain for power batteries, which stands at 97%, is the most complete in China, further solidifying Changzhou’s status as a key driver of high-quality development in the new energy industry.
Changzhou’s Leadership in New Energy
The city’s dedication to advancing the new energy industry has resulted in several recognitions. The Hurun Research Institute has ranked Changzhou third in its 2024 list of Chinese cities with the highest concentration of new energy enterprises, maintaining the top position in investment enthusiasm for three consecutive years. In addition, Changzhou-based companies made significant appearances on the global stage, with four local new energy enterprises making it to the global unicorn list.
Further supporting Changzhou’s leadership in the sector, three of China’s major new energy players—CATL, BYD, and Li Auto—have chosen to invest in the city. Since 2020, Changzhou has attracted 10.59 billion yuan in foreign investment, including major projects like the Li Auto component base and ArcelorMittal’s soft magnetic initiative.
Recognising Contributions and Fostering an Open Environment
At the conference, 30 enterprises were awarded for their contributions to Changzhou’s development in areas such as foreign trade, industrial innovation, and technology. To foster an international business environment, Changzhou also launched a multilingual guide for foreign professionals, further promoting its open and collaborative culture.
Focus on Innovation and Future Opportunities
In response to the growing global demand for sustainable energy, Changzhou launched strategic initiatives during the conference, including the second Energy Electronics Industry Innovation Competition and the Jiangsu Advanced Power and Energy Storage Battery Technology Innovation Center. These developments reflect Changzhou’s commitment to promoting industrial integration and cutting-edge technological advancements.
Additionally, Changzhou established the largest new energy mother fund in Jiangsu Province, valued at 5 billion yuan, to support future investments. A series of additional funds, including the 2 billion yuan Yangtze River Delta Hard Technology Scientists Fund and the 1.68 billion yuan Yuanzheng Venture Capital Fund, were also signed, collectively amounting to 6.305 billion yuan.
Shaping a Green Future
With a strong focus on green, low-carbon development, Changzhou is rolling out pilot projects for near-zero carbon parks, smart microgrids, and virtual power plants. The city is also exploring new business models such as load aggregators and plans to become a national pilot city for carbon peak initiatives.
A Vision for Tomorrow
Looking ahead, Changzhou is set to further expand its footprint in the new energy sector, focusing on emerging industries such as smart networks, hydrogen energy, and synthetic biology. By continuing to lead in energy innovation, Changzhou is positioning itself as a global hub for sustainable industrial development.
