China's New Energy Vehicles Go Global Market: Addressing Climate Change and Promoting Economic Growth
In early November 2023, after China's climate envoy Xie Zhenhua and U.S. presidential climate envoy John Kerry concluded negotiations in Sunshine Country in California, Kerry invited Xie Zhenhua to visit some local green and low-carbon industries, accompanied by Zou Ji, CEO of Energy Foundation China and president of Energy Foundation China, to the port of Long Beach in Los Angeles.
At the port, Zou Ji saw many new energy trucks busily transporting goods. According to the person in charge of the port, by 2030, all large heavy trucks transporting goods in the port of Long Beach will be new energy vehicles. To Zou Ji's surprise, many of the new energy trucks running in the port were made by China's BYD.
A BYD representative at the scene told Zou Ji that although the import of Chinese-made passenger cars is not limited by existing US laws, there are no such regulations for trucks, and they can enjoy both federal and state subsidies, which can account for 60% of the truck's price.
Zou Ji was deeply impressed by this scene, "As long as your products are good and cheap, there will always be people who want them, and they will always be welcomed in the market." He said.
Thousands of miles away, in the sister port of the Port of Long Beach, the Port of Shanghai. On January 17, at Shanghai Haitong International Automobile Export Terminal, the largest automobile export terminal in China, gongs and drums sounded. A 200-metre-long, 38-metre-wide and 13-storey ocean-going vessel lies quietly on the shore and is about to embark on its maiden voyage.
On January 17, 2024, the inaugural voyage ceremony of SAIC Ro-Ro ship.
The 7,600-space ocean car carrier SAIC Anji Shencheng, built by China State Shipbuilding Group, is the world's largest and most localized clean energy ro-ro ship with the largest loading capacity and the highest degree of localization, and will carry thousands of new Chinese brand vehicles to Europe on its maiden voyage, and will eventually dock at the new port of Flushing in the Netherlands.
SAIC and BYD are a microcosm of Chinese automakers' expansion into the global market in recent years. In 2023, China's vehicle exports will surpass Japan for the first time to rank first in the world, and according to data released by the China Association of Automobile Manufacturers, China's automobile exports will be close to 5 million units in 2023. Just five years ago, China exported only a quarter of Japan's cars. Among them, new energy vehicles are the highlight, with China's new energy vehicle exports exceeding 1.2 million units last year, a year-on-year increase of more than 77%.
The World Meteorological Organization officially confirmed 2023 as the hottest year on record on January 12. Extreme heat, heavy rainfall, storms, ...... The climate crisis is affecting our blue planet across the board and making its presence more and more visible.
Under climate change, economic development needs to be transformed, and the energy structure must also change. Today, as people become aware of the crisis posed by climate change, efforts to find solutions from all sides continue. The United Nations Intergovernmental Panel on Climate Change (IPCC) mentioned in its Sixth Assessment Report that "new energy vehicles offer the greatest low-carbon potential for the land transport sector".
New energy vehicles are also one of the solutions for economic growth. A new analysis by the UK-based climate and energy media Carbon Brief found that the clean energy sector contributed 11.4 trillion yuan to China's economy in 2023, accounting for more of economic growth than any other sector. In particular, investment in the "new three" industries, such as solar energy, new energy vehicles and batteries, totaled 6.3 trillion yuan, up 40% year-on-year, equivalent to almost all global investment in fossil fuel supply last year.
Despite the rapid development of new energy vehicles, they still face many challenges overall. New energy vehicles have great potential to reduce emissions, but whether the source of electricity is clean, can the driving experience of new energy vehicles completely surpass that of fuel vehicles, and whether they can provide new economic development opportunities? These questions remain to be answered, but in the low-carbon transformation of the transportation sector, new energy vehicles have undoubtedly set off a big wave.
A brilliant report card of Chinese car companies
According to the International Energy Agency, global NEV sales have reached record highs in the past two years, despite a variety of headwinds such as supply chain disruptions, macroeconomic and geopolitical uncertainties, and high commodity and energy prices.
On January 24, 2024, in Taicang Port, Jiangsu, new energy vehicles are waiting for export.
China is undoubtedly one of the countries and markets that are attracting the most attention. According to data from the China Association of Automobile Manufacturers, in 2023, the production and sales of new energy vehicles in China will reach 9.587 million and 9.495 million respectively, an increase of 35.8% and 37.9% year-on-year, respectively, and a market share of 31.6%.
With the rapid growth of production and sales, the industrial chain of new energy vehicles is also growing rapidly. Tianyancha data shows that as of now, there are more than 1.06 million new energy vehicle-related enterprises in China, of which more than 314,000 new registered enterprises will be registered from January to November 2023, an increase of 24.6% compared with the same period in 2022.
At the 2023 IAA MOBILITY 2023 (hereinafter referred to as the Munich Motor Show), more than 50 Chinese automobile-related companies will participate in the event with a variety of new energy models and core technologies of new energy vehicles. Compared with the previous expo, the number of Chinese exhibitors has doubled, and its exhibition content covers the fields of complete vehicles, three-electric systems, and automotive software.
At the exhibition, new models of new energy vehicles, intelligent driving technology, fast charging technology, etc., made people feel the rapid transformation of intelligence and cleanliness in the automotive industry. New energy vehicles have thrived in China, and now they have been able to bring original technologies across the ocean to other countries, profoundly rewriting the pattern of the automobile industry with internal combustion engines as the core in the past.
At the beginning of 2024, a piece of news captured the world's attention. BYD, a Chinese automaker, announced that it sold 3024417 vehicles for the year, winning the annual sales champion of Chinese automobiles and the global sales champion of new energy vehicles.
Du Guozhong, deputy general manager of BYD's brand and public relations department, told The Paper that BYD's new energy passenger vehicle exports will reach 242765 units in 2023, a year-on-year increase of 334.2%. As of the end of December 2023, BYD has exported more than 298,000 NEV passenger vehicles.
Du Guozhong introduced that as early as May 2021, BYD launched the "Passenger Car Going Overseas" plan, taking Norway as the first pilot market to develop overseas passenger car business. After more than two years of development, BYD's new energy passenger vehicles have entered Japan, the United Kingdom, Germany, Australia, Brazil and other countries, covering 59 countries and regions around the world.
Workers at BYD's solar panel and electric bus chassis production plant in Sao Paulo, Brazil, November 14, 2023 local time. BYD said it will invest 3 billion reais ($624 million) in Brazil to build its first electric vehicle factory outside Asia.
In Brazil, BYD won the 2023 NEV sales championship, with a market share of more than 60% in the second half of the year, and in Thailand and Malaysia, BYD won the 2023 NEV sales champion.
BYD's commercial vehicles went overseas earlier. In 2010, BYD's new energy bus K9 was exported to the United States, opening the way for commercial vehicles to go green overseas. In the export sales of new energy buses in 2023, BYD Commercial Vehicle ranks first in the industry with 3,148 units, and is the only bus company with export sales of more than 3,000 new energy buses, a year-on-year increase of 52.82%. As the first Chinese auto brand to fully enter the developed automotive markets such as Europe, the United States, Japan and South Korea, BYD's commercial vehicle footprint currently covers more than 400 cities in more than 70 countries and regions on six continents.
SAIC Motor is one of the largest automobile companies in China, Zhao Aimin, Secretary of the Party Committee and Deputy General Manager of SAIC International, told The Paper that new energy vehicles are a development trend of the global automobile industry, and SAIC will sell 1.123 million new energy vehicles in 2023, a year-on-year increase of 4.6%, of which overseas sales account for 1/4. Behind this, it is to grasp the demand of overseas countries for transportation carbon peak and carbon neutrality, as well as the grasp of consumer demand.
"It's gone up five-fold in the last three years, and it's been a big increase in car exports, and the carriers can't keep up with it. Jin Qi, general manager of SAIC Anji Logistics, said.
Jin Qi said that in the next three years, SAIC plans to build an ocean-going fleet composed of 14 ocean-going carriers in the 7000, 7600, 7800 and 9000 vehicle classes, provide a total of more than 500,000 units of ocean-going self-operating capacity, and actively support China's independent car brands to accelerate cross-sea expansion.
Opportunities and challenges for EVs going global
As one of the "new three" of China's foreign trade exports, the export scale of new energy vehicles continues to grow rapidly, exceeding 1.2 million units in 2023, a year-on-year increase of 77.6%, mainly for developed markets such as Europe.
Yao Zhanhui, chief expert of China Automotive Technology and Research Center, told The Paper that in 2024, Chinese automakers will continue to actively expand overseas markets, and relying on export support and trade facilitation policies, the export scale is expected to reach 1.5 million to 1.7 million vehicles.
However, Yao Zhanhui also pointed out that China's new energy vehicle exports are still facing their own development problems and external environmental challenges. From an internal point of view, the top-level strategy, related safeguard measures and service system for the international development of China's automobile industry still need to be continuously improved, and enterprises still have certain deficiencies in overseas financial services, logistics and transportation guarantees, and international operation levels.
From an external point of view, the rise of trade protectionism in some countries has increased the compliance pressure and cost of Chinese enterprises, and overseas car companies have also increased the layout of new energy vehicles, and the market competition will be more severe.
"In the context of the global promotion of green transportation and low-carbon travel, it is inevitable for China's new energy vehicles to go global. The Sino-foreign cooperation model is also expected to usher in the 2.0 era, with Chinese car companies shifting from technology acceptance to exporters, with the Chinese side providing product definition and intelligent new energy related technologies, and the foreign side providing international marketing, brand and styling, mechanical and hardware development. Yao Zhanhui said.
At present, the world's major automobile countries have increased policy support for the new energy vehicle industry to promote the rapid development of new energy vehicles.
For example, in June 2020, Germany increased the purchase subsidy for new energy vehicles from the original maximum of 6,000 euros to 9,000 euros, and the subsidy will be extended until 2025.
In addition to Norway, Denmark and other countries with earlier promotion of new energy vehicles and higher penetration rates, most developed countries still continue to support the development of new energy vehicles through tax policies, such as Japan, which once again extended the implementation period of automobile tax, mini vehicle tax and automobile weight tax for new energy vehicles in December 2022.
In addition, it also includes infrastructure support, such as Austria, which provides users with infrastructure subsidies ranging from 600 to 1,800 euros. and promote the "reshoring" of key industrial chains, such as the introduction of the European Union's carbon border adjustment mechanism and the new battery bill, strengthen the carbon emission requirements of power batteries and some commodities, accelerate the layout of key core technologies and support local supply chains.
In the global policy layout of new energy vehicles, China has taken the lead in establishing a national strategy for the development of new energy vehicles, focusing on "research and development, production, promotion, use, going out" and other links, and has introduced a series of policy measures to support the development of new energy vehicles, involving macro orientation, technological innovation, investment access, finance, taxation and finance, infrastructure, export support and other aspects, forming a new energy vehicle "China development model".
Yao Zhanhui believes that China's new energy vehicle industry has formed a certain first-mover advantage in the world, providing a Chinese solution for the development of global new energy vehicles. According to the "Blue Book of New Energy Vehicles" released by China Automotive Technology and Research Center, China's new energy vehicle industry will rise to the second place in the world in terms of international competitiveness in 2022.
This is mainly reflected in the fact that China has become the world's largest market for new energy vehicles. In 2023, China's new energy vehicle sales accounted for more than 60% of global new energy vehicle sales, ranking first in the world for nine consecutive years. From January to November 2023, 8 Chinese brands are among the top 20 brands in global new energy vehicle sales.
China has formed a fully ecological, independent and controllable industrial chain, successfully opened up key links such as basic materials, parts, manufacturing equipment, infrastructure and services, and has become the world's largest industrial base for new energy vehicles and parts.
On November 8, 2023, Ningde City, Fujian Province, CATL new energy electric vehicle battery.
In addition, the technical level of China's new energy vehicles has generally entered the world's advanced ranks. The average driving range of passenger cars is more than 400 kilometers, and the power consumption is about 12 kWh per 100 kilometers. The energy density of lithium-ion power batteries has been increased to 300 Wh/kg, and semi-solid-state batteries have been mass-produced and delivered. Significant technological progress has been made in intelligent products such as vehicle lidar and vehicle computing chips.
According to public data, China's new energy vehicle patent disclosure accounts for about 70% of the global public volume, and the patent disclosure of intelligent networked vehicles accounts for more than 50%.
"At present, the global automotive industry is in a period of great change in the integration of new energy, networking and intelligence, new technologies and new tracks are emerging, and the competition pattern of the new energy vehicle industry will also change and adjust. Yao Zhanhui said.
Climate solutions
Electric vehicles actually predate internal combustion engine vehicles. In 1837, the Englishman Robert Davidson (Robert Davidson) made the world's first new energy vehicle that could be used. It was not until 1886 that the first internal combustion engine car, the Mercedes-Benz One, was introduced.
Electric vehicles were an important means of transportation in the second half of the 19th century and the early 20th century. However, after 1920, due to the stagnation of battery technology, the internal combustion engine technology has advanced significantly, and at the same time, due to the improvement of oil extraction technology to reduce the cost of gasoline, fuel vehicles have gradually become the protagonist of land transportation for nearly a century.
Nowadays, with the development of new technologies represented by battery technology, new energy vehicles have come to the center of the automotive stage.
The World Resources Institute (WRI) mentioned in the "State of Climate Action 2023" report that the development of new energy vehicles was almost the only satisfactory category in the global action on climate change last year. The global transport system currently accounts for 15% of global greenhouse gas emissions and continues to grow. In 2019, 71% of transport-related greenhouse gas emissions came from roads. For years, the decarbonization rate of the transport sector has lagged behind that of other sectors such as electricity and heating.
"New energy vehicles are definitely an important solution to deal with climate change, especially in mitigation. Because new energy vehicles do not emit greenhouse gases while driving, in the future, the electricity of new energy vehicles will ideally come from renewable energy, and cars will also be manufactured with zero emissions. Stephen Naimoli, a researcher in the energy department of the Systems Transformation Lab at the World Resources Institute, told The Paper.
Liu Daizong, chief representative of the East Asia region of the Institute for Transport and Development Policy (ITDP), further explained to The Paper why new energy vehicles have become an important solution to mitigate climate change - like emission reductions in other areas, emission reduction in the transportation sector requires simultaneous efforts in three aspects: reduction (unnecessary travel), conversion (mode of transportation) and improvement (efficiency), and new energy vehicles mainly belong to the third part of the improvement area.
"At the peak of [carbon] power, before 2030, switching modes of transport and reducing non-essential transport trips can play a more important role. However, after 2030, when the 'slope peak' comes down to 'zero', new energy vehicles will play a very important role. Without new energy vehicles, it is basically difficult for the transportation industry to achieve net-zero emissions. Liu Daizong said.
The most common questions about NEVs include the fact that manufacturing batteries generates carbon emissions, and that NEVs may generate electricity from fossil fuels, so they do not have climate benefits compared to traditional fuel vehicles.
The results of the "China Automotive Low-Carbon Action Plan (2022) - Low-carbon Development Strategy and Transformation Path of the Automotive Industry for Carbon Neutrality" led by China Automotive Technology and Research Center China Automotive Data Co., Ltd.: Based on the actual vehicle data in 2021, considering the whole life cycle (vehicle cycle + fuel cycle), the carbon emission per unit mileage of pure electric passenger vehicles is about 150 grams of carbon dioxide/km, while that of gasoline passenger cars is 265 grams of carbon dioxide/km and diesel passenger cars are 369 grams of carbon dioxide / Kilometer. It can be seen that the carbon emissions per unit mileage of pure electric passenger vehicles are significantly lower than those of gasoline and diesel passenger vehicles.
In addition, questions about the longevity of new energy vehicle batteries and the mining and recycling of battery raw materials have not stopped for many years. In fact, new energy vehicles are more durable than these opposing voices think. At present, most new energy vehicle manufacturers offer a battery warranty period of at least eight years, and the service life of new energy vehicle batteries is roughly equivalent to the life of traditional fuel vehicles. A study of 15,000 new energy vehicles by battery analysis company Recurrent Motors found that only 1.5% of them had their batteries replaced.
While there is no doubt about the role of NEVs in reducing emissions, and some of the reasons for their harshness are not valid, this does not mean that NEVs can be a logical part of the climate solution.
First of all, the electricity of new energy vehicles should come from the "clean grid" as much as possible – that is, through clean energy sources such as renewable energy.
Zhou Xiaohang, director of the China Clean Power Program at the Natural Resources Defense Council (NRDC), said in an interview with The Paper: "We advocate clean power production, electrification of end-use energy, and clean charging of new energy vehicles to achieve low-carbon and clean development in the transportation sector. ”
In order to achieve this goal, it is also necessary to build a complete green industrial chain and reduce carbon emissions throughout the life cycle of new energy vehicles.
Zhou Xiaohang said that the problem of carbon emissions or environmental pollution at the production end of new energy vehicles needs to be solved through carbon capture, pollution treatment and other means, and strengthen industry supervision. "There are a number of policies that have been put in place at the national level," she said. From the perspective of the whole life cycle, scrapped new energy vehicles can be classified and recycled for centralized harmless treatment to reduce the impact on the environment. ”
On June 14, 2023 local time, in Idinga, Brazil, bulldozers sorted out and transported lithium ore.
Lithium ore is the main raw material for the production of power batteries. With the development of the industry, a large number of lithium mining has had varying degrees of impact on the local environment. Zhou Xiaohang stressed that this requires more technical improvements and supervision to ensure that the development of the industry is premised on safety, environmental protection and compliance.
It should be noted that although there are environmental problems associated with the mining of battery raw materials, the impact is far from at the same level as the global fossil energy industry, including the large-scale exploitation of coal, natural gas and oil. Many experts pointed out that the comparison between the fossil energy industry and the new energy industry should not be ignored, nor should the overall benefits of phasing out fossil energy be ignored.
Ran Ze, director of technology innovation at the Environmental Defense Fund (EDF) Beijing office, also believes that the carbon reduction effect of new energy vehicles is highly correlated with the cleaner power grid. "There is no doubt that China is building a new power system with renewable energy as the main body, so the power grid will be cleaner and cleaner. ”
Ran Ze said that in order to cope with climate change, there are many aspects in the terminal application field that need to achieve new energy: "In terms of private cars, new energy vehicles have developed very rapidly. And at present, the country is also promoting the new energy of public vehicles, including buses, taxis new energy level is higher, and the level of new energy of official vehicles is also improving rapidly, next, the level of new energy such as sanitation vehicles and logistics vehicles needs to continue to improve. ”
In Naimoli's view, the main obstacle to the further development of new energy vehicles is cost. "This is also the real reason for the rapid development of new energy vehicles. Conversely, if we can continue to reduce costs, especially the cost of batteries, this will make new energy vehicles more affordable for more people. He said.
Nemolli suggested that in the next few years, if governments can continue to provide various favorable policies, including subsidies to encourage the purchase of new energy vehicles and a timetable for banning the sale of gasoline vehicles, it will greatly promote the popularization of new energy vehicles.
From the application level, the construction of supporting infrastructure is also an important measure to prevent the development of new energy vehicles from falling into difficulties.
"The availability of charging infrastructure is very important. This is also the view of many countries that help drivers feel confident that they can afford to buy new energy vehicles and that they can use them well. This has also contributed to the dramatic growth of charging infrastructure in recent years. We looked at the data and found that from 2017 to 2022, the global public charging infrastructure grew by 500%, with 2.8 million charging points. Nemoli said.
The obstacles on the road to the development of new energy vehicles are far more than environmental and technical problems, and more challenges must be taken into account.
In recent years, some countries have begun to pay attention to the safety of the new energy vehicle industry chain. How to promote the common development of the global industrial chain? International cooperation is crucial.
"International cooperation definitely has a real role to play in setting standards for the supply chain as well as for the production process of new energy vehicles. International cooperation can really help different countries build trust and common goals. Nemoli said.
Nemolli further dissects the urgency of achieving supply chain security. For example, one of the major challenges in the development of new energy vehicles is to reduce and stabilize the cost of batteries. If there is a problem with the extraction of critical minerals such as lithium, it will have a great impact on the price of batteries, and it will be difficult to reduce the cost of batteries. This highlights the economic implications of supply chain security.
In the current new energy vehicle supply chain, many countries are trying to compete and hope to diversify the supply chain. It will be even more difficult to achieve collective global goals if the world remains focused on fierce competition, with each country trying to develop its own complete supply chain and erect competitive barriers to others.
On the other hand, the competition in the international new energy vehicle market is indeed intensifying. Last year, the European Union launched a countervailing investigation into China's new energy vehicles and required battery manufacturers to disclose information such as their carbon footprint in the battery law. The U.S. Inflation Reduction Act encourages the reshoring of new energy vehicle manufacturing and restricts companies from other countries from applying for subsidies.
Ran Ze believes that due to the huge market of new energy vehicles, all countries hope to seize the initiative in the development of new energy vehicles, and the degree of "volume" of the new energy vehicle industry at home and abroad will be higher and higher. Where to place the industrial chain, sometimes it is market behavior, enterprises may pursue profit maximization, sometimes it is the government or policy requirements, and the government encourages local production. It is foreseeable that, for whatever reason, more and more Chinese companies will set up factories abroad in the future, and this is what has already happened.
Zhao Aimin, Secretary of the Party Committee and Deputy General Manager of SAIC International, told The Paper that in the future, if SAIC Motor selects a site to build a factory in Europe, there may be a variety of ways to land, including self-construction, leasing, cooperation, etc.
"Just like 40 years ago, when an international car company came to China, it was a process, and now we go out in reverse, and we will go through a variety of processes, we have to adapt to the local culture, understand and integrate into the local area. In line with the principle of cooperation and openness, we do not rule out any possibilities, whether it is vehicle manufacturing or parts manufacturing, we have this aspect of thinking. Zhao Aimin said.
Du Guozhong told The Paper that different countries or regions have different policies, regulations, and consumption environments, and BYD's challenges in overseas markets mainly come from the challenges of differentiation, including differences in market environment, consumption environment and cultural environment. In view of this, BYD has consistently respected the local market, abided by the rules of overseas markets, and guided by overseas local policies, actively responded to the implementation of policy requirements, and seized the development opportunities of the new energy vehicle market.
Zhou Xiaohang believes that international cooperation is beneficial to promoting the low-carbon development of the global transport sector. Through international cooperation, we can improve the supply chain of the new energy vehicle industry in various countries, improve the technical level of new energy vehicles, and achieve disruptive innovation.
Solutions for economic growth
At present, in the context of global carbon neutrality, various countries are vigorously promoting the electrification of vehicles. Norway plans to ban the sale of gasoline-powered vehicles by the end of 2025, Germany plans to have 15 million electric vehicles by 2030, France plans to achieve 100% electric vehicles by 2035, and the Indian government plans to increase the market share of electric vehicles to 30% by 2030.
In this context, the market demand for new energy vehicles will continue to grow, and the popularization of new energy vehicles will also play an important role in promoting the development of low-carbon and green economy, achieving carbon neutrality and global sustainable development.
The Economist's January cover story on new energy vehicles sharply pointed out that as emission reduction policies enter deep waters, governments around the world are realizing that asking consumers to go green is a daunting task. Cars are one of the biggest purchases people make in most countries. China's new energy vehicles are stylish, functional, high-quality, and inexpensive, making them a good choice to help countries transition to low-carbon transportation.
In the final analysis, in order to further develop the new energy vehicle market, it is necessary to improve its own performance to win the recognition of consumers. "Compared with the previous two years, the overall functional experience of new energy vehicles has been significantly improved, and the cruising range has also been improved. The functions of assisted driving and intelligent Internet of Vehicles have surpassed those of fuel vehicles, bringing a better driving experience, which is the real feedback of some friends around me. Zhou Xiaohang said in an interview with The Paper.
Zou Ji, CEO and President of Energy Foundation China, further pointed out that new energy vehicles are also one of the solutions for economic growth.
Zou Ji said that from an economic point of view, when the income level of the population rises, investment demand and consumption demand are changing, one of which is reflected in the car. According to the development history of developed countries, automobiles are a long-lasting investment and consumption momentum.
In almost all countries, cars are a bulk consumer activity. Automobile manufacturing is also a concentrated microcosm of a country's industrialization level and scientific and technological progress. It has a high degree of industrial relevance, a long industrial chain, a large proportion of corresponding financial services, and a high added value, and any developed economy will regard automobiles as an important pillar of economic growth.
In addition, with the progress of science and technology, automobiles are more functional and increasingly intelligent, which can meet people's diverse needs, which also makes the automobile industry in a very important position in economic development and can play a greater role.
"It can be said that in today's economic growth, the car is a ballast stone, and it also has the potential to grow. The process of new energy vehicles and the entire economic growth can be a benign interaction, economic growth, income increases, the demand for new energy vehicles will rise, in turn, the demand for new energy vehicles will rise, and promote economic growth. Zou Ji said.
Liu Daizong also believes that "new energy vehicles are a good starting point for economic transformation under the dual carbon policy." It can not only help achieve the goal of carbon peaking and carbon emission reduction, but also provide a growth model for the new economy. We might be able to look at this more positively – it is an opportunity for economic development, not entirely a responsibility to address climate change. Liu Daizong said.
(Real.)practiceZhang Yixin contributed to this article)
