How China’s Industrial Policy is accelerating its Green Tech economy’s growth
This video from Channel News Asia (7 min) looks at what drives China’s highly successful industrial policy in the green technology sector.
“Sichuan houses the largest clean energy industrial cluster – and it’s a result of industrial policy. Local government officials carefully select the companies to complement the industrial chain, creating an ‘assembly line’ where an upstream company’s products will feed into a downstream company’s needs in a neighbouring city.”
“China’s clean energy sector was biggest driver of 2023 GDP growth.By one calculation, the industry’s contribution to the Chinese economy rose 30% year-on-year to 11.4 trillion yuan (US$1.6 trillion) in 2023.”
Video segments:
00:00 World’s largest hybrid solar-hydro plant
01:23 Impact of China’s industrial policy
03:32 Creating an ‘assembly line’ across Sichuan’s cities
04:14 Linking supply chain networks in China
05:20 Can Western countries de-risk from China’s green tech?
Source: CNA Insider, Mar 8, 2024. https://youtu.be/NoRcP87Lu78