War accelerates the global energy transition, drawing attention to China's new energy sector

China Economic Net News: In the wake of the U.S.-Iran war, which has recently sparked extreme volatility in fossil-fuel prices, the energy security crisis has continued to stand out. More countries and companies are once again refocusing on new energy. At the critical moment of urgently filling supply gaps, companies from multiple countries have shown strong interest in China’s new energy.

Li Xiang, vice president of the Ordos Energy Research Institute of Peking University, who previously served as a project officer at the China Liaison Office of the International Energy Agency (IEA), said in a recent interview with reporters from the China Economic Net News that overseas companies have significantly increased their demand for China’s wind and solar products as well as new-energy electric vehicles. This, in turn, creates greater opportunities for Chinese companies to invest overseas. At a time when energy security issues are becoming increasingly prominent worldwide, countries that lack sufficient self-sufficiency in oil supply need to accelerate their energy transition even faster. And the transition requires large quantities of advanced equipment with controllable costs, which is precisely where China’s companies have a favorable window to expand abroad.

Cover image source: China Economic Net News