Jiangsu has ten cities included in the Hurun China New Energy Cities 2023, a list of the Top 50 cities in China with the highest concentration of new energy companies, released by the Hurun Research Institute on June 19.

Shenzhen, Shanghai, Suzhou, Beijing and Changzhou took the top five places on the list, the second edition of the list released by the institute. The five cities with the highest concentration of small and medium-sized new energy companies are Shenzhen, Shanghai, Dongguan, Beijing and Guangzhou.

Among China's province-level regions, Jiangsu stands out for having the highest concentration of new energy companies, with ten of its cities recognized on the list.

Suzhou, ranking third, is home to headquarters of companies including Jiangsu HSC, a high-tech enterprise of lithium-ion battery electrolyte additives, and GoodWe, a global manufacturer and innovator of solar inverters, energy storage solutions and PV building materials.

Changzhou, ranking fourth, hosts leading companies such as Trina Solar, a world leader in solar energy innovation and reliability, CALB Group and SVOLT Energy Technology.

(CFP Photo)

The Hurun report also underlined the strong performance of the PV industry, driven by the global energy transition. Global PV financing reached $8.4 billion in the first quarter of this year, up 11% year-on-year.

Changzhou is particularly noteworthy on this year's list as it not only houses headquarters of several new energy companies but also serves as the manufacturing base and R&D hub for top companies such as CATL, Li Auto, BYD, BTR and SENIOR.

For instance, Changzhou is home to CATL's largest manufacturing base in the Yangtze River Delta and Li Auto's largest manufacturing base in China. Currently, the city has developed a comprehensive industrial ecosystem, with vehicle and vehicle battery production and sales accounting for half of the province's total.