Chart of the Day: China Exports of Green Energy Products Pick Up Pace Amid Oversupply

00:00

00:00/00:00

Listen to this article 1x

Exports by Chinese manufacturers of key green transition products continued to accelerate in August, customs data showed, amid rising trade tensions and oversupply in the domestic market.

Overseas shipments of solar cells, electric vehicles (EVs) and lithium-ion batteries — dubbed the “New Three” — all increased last month from a year ago, according to data released Wednesday by the General Administration of Customs. Among them, solar cell exports saw the highest growth rate of 47.2%, followed by EVs at 33.6% and lithium-ion batteries at 8.6%.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.

Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.

Share this article

Open WeChat and scan the QR code

DIGEST HUB

Digest Hub

Back

Explore the story in 30 seconds

Chinese exports of solar cells, EVs, and lithium-ion batteries increased yearly in August, with solar cells growing 47.2%, EVs 33.6%, and batteries 8.6%.
Despite volume growth, the value of solar cell exports dropped 27.6% to $2.4 billion, and EV exports rose 27% to $4.1 billion.
China faces tariffs and trade tensions, with ongoing negotiations to prevent new EU tariffs on battery EVs, amid weak domestic demand and overcapacity issues.

AI generated, for reference only

Who’s Who

Huajin Securities Co. Ltd.: Huajin Securities Co. Ltd. noted in a research report that China's recent export boom might be short-lived due to cooling demand for lower-end products and uncertainty around the U.S. presidential election, which could prompt tougher trade policies. The report emphasized the importance of expanding domestic demand for consumer durables amid a challenging international trade environment and deleveraging in real estate and infrastructure.

AI generated, for reference only

What Happened When

August 2024：: Exports by Chinese manufacturers of key green transition products accelerated amid rising trade tensions and oversupply in the domestic market.

Wednesday, September 18, 2024：: Data showing the increase in overseas shipments of solar cells, electric vehicles (EVs) and lithium-ion batteries was released by the General Administration of Customs.

Thursday, September 19, 2024：: Chinese Commerce Minister Wang Wentao and EU trade chief Valdis Dombrovskis released a statement reaffirming their willingness to find a mutually agreeable solution to avoid new duties.

AI generated, for reference only