CHANGZHOU, China, Sept. 30, 2024 (GLOBE NEWSWIRE) -- On September 26, the 2024 New Energy Industry Development Conference & Invest in Changzhou Conference opened, 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 projects were signed, with investments reaching 39.7 billion yuan, including nine foreign-funded projects worth $1.16 billion. Ten provincial financial institutions also signed financing agreements totaling 120 billion yuan in credit.
New Identity: Advancing Towards China's Capital of New Energy
The Ministry of Industry and Information Technology has introduced industry identity initiatives, such as Hangzhou's "China's Vision Valley" and Ningbo's "Capital of Magnetic Innovation." Changzhou has been named China's "Capital of New Energy." The city has developed a comprehensive industrial ecosystem, covering power generation, energy storage, transmission, application, and networking. With a strong foundation in new energy, Changzhou leads Jiangsu province in manufacturing added value, forming two national-level industrial clusters in intelligent manufacturing equipment and new carbon materials, with five clusters exceeding one trillion yuan.
Changzhou showcases its achievements as the "Capital of New Energy" through three sets of time data. The billion-yuan CATL Jiangsu project took just 363 days from signing to production. Li Auto, now a trillion-yuan company, transformed from a 3-page startup pitch to generating over 123.8 billion yuan in revenue within six years. Additionally, Changzhou's new energy vehicle industry evolved from small-scale production to a collaborative, large-scale model in four years, with vehicle output increasing from 112,000 units in 2021 to 678,000 in 2023, and projected to exceed 800,000 units this year.
New Projects: Major Investments in Changzhou
Changzhou ranked third in the 2024 Hurun Report for the concentration of China's new energy industry, marking three consecutive years of highest investment enthusiasm. Four local new energy companies achieved unicorn status, and five firms, including CATL, BYD, and Li Auto, from the latest Hurun Global 500 list, chose to invest in Changzhou.
Key projects such as ArcelorMittal from Luxembourg, Li Auto's parts base, and Bayer Medical Equipment from Hong Kong have established operations in Changzhou, attributed to its favorable business environment. Since 2020, the city has attracted a total of $10.59 billion in foreign investment.
At the conference, Ju Gwang-deok, the mayor of Changzhou's sister city, Namyangju in South Korea, emphasized enhancing cooperation in the new energy sector. Thirty enterprises were recognized for their significant contributions to foreign investment. Additionally, the "Service Guide for Foreigners in Changzhou," a multi-language resource, was launched to assist expatriates living and working in the city.
New Tracks: Future Industries Moving Forward
Green, low-carbon, digitalization, and sustainable development are the prevailing themes of our time. Changzhou will host various strategic collaborations, innovative platforms, and national events, including the launch of the Second Energy Electronics Industry Innovation Competition and a strategic cooperation agreement to enhance industrialization in the city. Additionally, the Jiangsu Province Advanced Power and Energy Storage Battery Technology Innovation Center was inaugurated.
To attract investment in future industries, Changzhou has established Jiangsu's largest new energy mother fund, totaling 5 billion yuan. The event also included the signing of several fund projects, such as the 2 billion yuan Yangtze River Delta Hard Technology Scientist Fund and the 1.68 billion yuan Yuanzheng Venture Capital Fund, amounting to a total of 6.305 billion yuan.
Changzhou is advancing the integration of "vehicle, energy, road, and cloud," introducing pilot programs for nearly zero-carbon parks and intelligent microgrid projects. It fosters the development of new business models, including virtual power plants and load aggregators, with the goal of becoming a national carbon peak pilot city.
Looking ahead, Changzhou's new energy landscape is set to expand, with investment opportunities emerging in key areas such as synthetic biology, low-altitude economy, smart connected new energy vehicles, solid-state batteries, hydrogen energy, third-generation semiconductors, artificial intelligence, robotics, and industrial mother machines.
Source: The Organizing Committee of 2024 New Energy Industry Development Conference & Invest in Changzhou Conference
