A view of the assembly line of electric vehicle manufacturer Li Auto in Changzhou City, Jiangsu Province, December 10, 2023. (CFP file photo)

Jiangsu Province has recently unveiled a strategy to bolster the high-quality development of the new energy industry in Changzhou City, with a goal to increase the industry’s output value to over one trillion yuan by 2025.

The initiative will focus on innovation in solar photovoltaic systems, EV batteries, energy storage, new electric power equipment and EVs, gradually transforming the city into a powerhouse of new energy. Jiangsu will back the development of the China-Israel Changzhou Innovation Park and other international industrial parks, creating platforms for global sci-tech exchange and cooperation. Key laboratories in Changzhou will be assisted to serve as pivotal centers for innovation.

To build a robust industry chain, Changzhou will intensify investment promotion and welcome leading companies to build their regional headquarters in the city.

In terms of application, Changzhou will explore the construction of solar energy-powered buildings, and charging stations that combine solar power generation and storage. The city will also demonstrate the application of hydrogen energy.

Changzhou will be supported to embrace green and low-carbon development and get recognized as a national pilot city for carbon neutrality. The city is anticipated to establish a national demonstration base for new industrialization and a national pilot area for the 5G+industrial internet integration.

In addition, Jiangsu will enhance financial support for Changzhou and encourage private investment in the new energy industry. Changzhou will receive support in building an integrated financial-industry development innovation center and improving the diversified dispute resolution mechanism with the opening of the Jiangsu New Energy Dispute Arbitration Center.