China's new energy sector a catalyst for job creation globally

BEIJING - Some Western politicians claim China's new energy industry threatens the jobs of other countries. However, facts and figures prove such a narrative groundless and false.

China's new energy sector is not just a source of domestic growth but also a catalyst for job creation globally, as firms extend their reach through overseas plant establishments and collaborative ventures. However, it is some other countries' protectionism policies, rather than such initiatives, that pose a threat to employment prospects.

Leveraging their technological prowess, Chinese new energy enterprises have intensified international collaborations, by setting up or planning production facilities in various countries such as Hungary and Germany, thereby generating thousands of employment opportunities.

For instance, CATL, a leading battery manufacturer, commenced cell production at its inaugural overseas plant in Germany in December 2022, expected to create up to 2,000 new jobs locally. Moreover, with a substantial investment of 7.34 billion euros, CATL is in the process of constructing a production hub in Hungary.

Meanwhile, Chinese enterprises' overseas investments in clean energy encompass diverse domains like wind power, photovoltaic generation, and hydropower. In the first three quarters of 2023, Chinese firms committed an impressive $3.8 billion to overseas renewable energy projects.

This number surpassed the combined sum of the preceding two years, according to a report issued at a forum on South-South cooperation in renewable energy held in late March. These projects also create tens of thousands of job opportunities and contribute to the industrial development of partner countries.