Clean technologies contributed more than ten percent to China’s gross domestic product (GDP) for the first time in 2024. The „three new“ industries in particular, namely electromobility, solar and battery technologies, are driving this growth, writes Carbon Brief. In total, China invested the equivalent of USD 940 billion in clean technologies. This makes them more valuable than the real estate market for the first time.
The growth of clean technologies is mainly due to higher production capacities in China. In 2023, the sector grew by a full 40 percent; last year, as expected, this growth fell to seven percent. At USD 1.9 trillion, the contribution of clean technologies to China’s GDP is therefore on par with other major economies such as Australia or Mexico.
The most valuable sector at present is the production of electric cars with just under 40 percent. This is followed by clean energy and rail transportation. Through the development of the „three new“ industries, Beijing is also moving noticeably away from the goal of energy efficiency: The profits from clean technologies should be motivation enough for provincial regions to adhere to climate targets in the future. ek