China's exports of green technology products continued to accelerate in the first half of the year, driven by the accelerating global energy transition.
Shipments of lithium batteries and wind turbines increased by 38% and 36%, respectively, over January-June, according to Wang Jun, deputy director of China’s General Administration of Customs.
“As the global shift toward green and low-carbon development continues to gain momentum, rising investment and consumer demand in renewable energy sectors are increasingly aligned with China’s green product offerings,” Wang said at a media briefing on Tuesday.
The growth builds on an already strong first quarter, when lithium battery exports surged by 50% from the same period a year earlier. Exports of basic organic chemicals and primary-shaped plastics also increased by 25% and 35% respectively. The sustained demand reflects a global search for alternative energy sources that has been hastened by the energy-supply crunch arising from the Middle East war.
Will the global energy transition continue to gain momentum even if the conflict in the Middle East subsides?
The private sector, already a dominant force in China’s foreign trade, continued to play a pivotal role. Shipments of electric vehicles, lithium batteries and solar products by private companies recorded a 46% increase in the first half, according to China Customs’ spokesperson Lyu Daliang.
“This shows that private companies have emerged as a key supply pillar for the global green transformation,” Lyu said at the same briefing.
Overall, China’s growth in exports and imports topped all forecasts in June, as surging chip prices and global demand for hardware needed to power artificial intelligence data centers lift trade across Asia.
