2024 New Energy Industry Development Conference and Changzhou Investment Conference took place

CHANGZHOU, China, September 27, 2024 (GLOBE NEWSWIRE) —

On September 26, the 2024 New Energy Industry Development Conference and Investment Conference began in Changzhou, bringing together academics, experts, domestic and international business representatives, and financial institutions to discuss cooperation and development.

You can access the Media Piece accompanying this announcement by clicking this link.

A total of 42 representative projects were signed, including 9 foreign-financed projects worth US$1.16 billion, with a total investment of 39.7 billion yuan. Ten provincial financial institutions have undertaken major financing projects with loan amounts reaching 120 billion yuan.

Changzhou has pioneered the establishment of a complete industrial ecosystem covering 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 the nationwide investment excitement. The solar photovoltaic industry is among the largest industries in the country, and the completeness of the power battery industry chain is the highest in China at 97%, which significantly contributes to the high-quality development of the new energy industry.

Changzhou became known as the “New Energy Capital of China”. This title reflects the city’s determination to create a world-class new energy industry cluster while adapting to new conditions, developing its hard and soft power, and accelerating the progress of new industrialization. It represents the future of China’s new energy sector and showcases a green, efficient, innovative and collaborative industrial image shaping a vibrant “New Changzhou”.

Hurun Research Institute has been continuously publishing the list of cities with high concentration in the new energy sector since 2022. At the conference, the list of 2024 Hurun China New Energy Sector Concentration Cities was announced; Changzhou ranked third, maintaining its top spot in investment excitement for the third year in a row. Four energy startups from Changzhou made it to the global unicorn list.

Five new energy-related companies were included in the latest Hurun World 500 list; three of them were from China: CATL, BYD and Li Auto, and all of them chose to invest in Changzhou. South Korea is a major source of foreign investment for the city, with 326 well-known Korean businesses based in Changzhou. Major projects are being launched, including the ArcelorMittal soft magnetic project and the Li Auto component base project worth 3 billion yuan, and Changzhou has attracted a total of 10.59 billion yuan of foreign investment since 2020.

During the conference, 30 enterprises were awarded for their significant contributions to Changzhou’s social development, industrial development, foreign trade and technological innovation. To promote an open environment, Changzhou has also published a multilingual guide for foreign staff.

Green, low-carbon and sustainable development is very important in today’s world. Changzhou is implementing a series of strategic collaborations, innovation platforms and national events to promote industrial integration and innovation. In addition to the signing of the strategic cooperation agreement to promote the new industrialization of Changzhou, the second Energy Electronics Industry Innovation Competition was also launched on site. Jiangsu Advanced Power and Energy Storage Battery Technology Innovation Center was also opened.

In order to promote investment and development in future industries, Changzhou established the largest new energy capital fund in Jiangsu Province, totaling 5 billion yuan. In addition, several other funds were also signed, including the 2 billion yuan Yangtze River Delta Hard Technology Scientists Fund and the 1.68 billion yuan Yuanzheng Venture Capital Fund, totaling 6.305 billion yuan.

Changzhou aims to enhance its industrial development capabilities and cultural soft power by actively promoting the integration of “Vehicle, Energy, Road and Cloud”. The city is implementing 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, and striving to become a national carbon peak pilot city.

Going forward, Changzhou will expand the new energy landscape, accelerate entry into smart networking and low-altitude economy industries, and unlock investment opportunities in nine areas, including synthetic biology, new energy vehicles and hydrogen energy.

Source: 2024 New Energy Industry Development Conference Organizing Committee and Investment in Changzhou Conference