CHANGZHOU, China, Sept. 27, 2024 (GLOBE NEWSWIRE) —
On September 26, the 2024 New Energy Industry Development Conference & Invest in Changzhou Conference kicked off, gathering academicians, experts, domestic and international business representatives, and financial institutions to discuss collaboration and development.
A Media Snippet accompanying this announcement is available by clicking on this link.
A total of 42 representative projects were signed, with a total investment of 39.7 billion yuan, including 9 foreign-funded projects worth 1.16 billion USD. Ten provincial financial institutions signed key financing projects with a credit amount reaching 120 billion yuan.
Changzhou has pioneered the establishment of a complete industrial ecosystem encompassing generation, storage, transmission, application, and networking in the new energy sector. From January to August this year, Changzhou produced nearly 680,000 new energy vehicles, ranking first in investment enthusiasm nationwide. The solar photovoltaic industry is among the largest in the country, and the completeness of the power battery industry chain stands at 97%, the highest in China, significantly contributing to the high-quality development of the new energy industry.
Changzhou has been recognized as “China’s Capital of New Energy.” This title reflects the city’s commitment to building a world-class new energy industry cluster while adapting to new circumstances, enhancing its hard and soft power, and accelerating the progress of new industrialization. It represents the future of China’s new energy industry and showcases a green, efficient, innovative, and collaborative industrial image, shaping a vibrant “New Changzhou.”
Since 2022, Hurun Research Institute has consistently published the list of cities with high concentration in the new energy industry. At the conference, the 2024 Hurun China New Energy Industry Concentration Cities list was released, with Changzhou ranking third, maintaining the top position in investment enthusiasm for three consecutive years. Four new energy enterprises from Changzhou made it to the global unicorn list.
In the latest Hurun World 500, five companies related to new energy were included, three of which are from China: CATL, BYD, and Li Auto, all of which have chosen to invest in Changzhou. South Korea is a key source of foreign investment for the city, with 326 well-known Korean enterprises established in Changzhou. Major projects, including the ArcelorMittal soft magnetic project and the 3 billion yuan Li Auto component base project, are being launched, with Changzhou attracting a total of 10.59 billion yuan in foreign investment since 2020.
During the conference, 30 enterprises were awarded for their significant contributions to Changzhou’s social development, industrial upgrading, foreign trade, and technological innovation. To foster an open environment, Changzhou also released a multilingual guide for foreign personnel.
In today’s world, green, low-carbon, and sustainable development are paramount. Changzhou is implementing a series of strategic collaborations, innovation platforms, and national events to promote industrial integration and innovation. The second Energy Electronics Industry Innovation Competition was launched on-site, alongside the signing of a strategic cooperation agreement to support Changzhou’s new industrialization. The Jiangsu Advanced Power and Energy Storage Battery Technology Innovation Center was also inaugurated.
To promote investment and development in future industries, Changzhou established the largest new energy mother fund in Jiangsu Province, totaling 5 billion yuan. Additionally, several other funds were signed, including a 2 billion yuan Yangtze River Delta Hard Technology Scientists Fund and a 1.68 billion yuan Yuanzheng Venture Capital Fund, amounting to a total of 6.305 billion yuan.
Changzhou aims to enhance its industrial development capabilities and cultural soft power, actively promoting the integration of “Vehicle, Energy, Road, and Cloud.” The city is rolling out pilot projects for near-zero carbon parks and smart microgrids, encouraging the development of new business models such as virtual power plants and load aggregators, striving to become a national carbon peak pilot city.
Looking ahead, Changzhou will expand its new energy landscape, accelerate entry into smart networking and low-altitude economy industries, and unveil investment opportunities in nine fields, including synthetic biology, new energy vehicles, and hydrogen energy.
Source: The Organizing Committee of 2024 New Energy Industry Development Conference & Invest in Changzhou Conference
