War Accelerates Global Energy Transition, China's New Energy Gains Attention

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Everyday Economic News: Recently, the US and Iran conflicts have caused sharp fluctuations in fossil fuel prices, highlighting ongoing energy security crises. More countries and companies are refocusing on new energy sources. At this critical moment of filling the gap, many multinational companies are showing strong interest in China’s new energy sector.

Li Xiang, Vice President of the Ordos Energy Research Institute at Peking University, who previously served as a project officer at the International Energy Agency (IEA) China Liaison Office, recently told the Daily Economic News that foreign companies’ demand for Chinese solar products and new energy electric vehicles has significantly increased, indirectly creating greater overseas investment opportunities for Chinese companies. As global energy security issues become more prominent, countries with insufficient self-sufficiency in oil supply need to accelerate energy transition, which requires large quantities of advanced and cost-effective equipment. This provides a good opportunity for Chinese companies to expand abroad.

Cover image source: Daily Economic News

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