21st Century Business Herald:

You have just mentioned the continuous increase in the installed capacity of new energy. We believe that developing new ways of storing energy is also very important. The Report on the Work of the Government this year also, for the first time, proposed the creation of new energy storage methods. Could you please provide an update on the current progress of new types of energy storage projects? What additional work is needed to further develop new types of energy storage across China? Thank you.

Zhang Jianhua:

We will have Mr. Li Chuangjun answer this question.

Li Chuangjun:

Thank you for your question. New types of energy storage are a crucial component of both new power and new energy systems. They are key supporting technologies in China's efforts to build these new systems. Their development can drive the growth of upstream and downstream industrial chains and promote scientific and technological innovation, talent cultivation, and investment and employment. They have become one of the new growth drivers for the development of new quality productive forces.

As of the end of May this year, China's installed capacity of new energy storage projects that had been constructed and put into operation exceeded 38 million kilowatts, with an average storage duration of 2.2 hours. There are 12 provinces and regions with an installed capacity of over 1 million kilowatts. New energy storage technologies continue to emerge, with a diverse range of technological approaches flourishing. Currently, lithium-ion battery storage still holds the dominant position and is widely applied in new energy power stations, substations and industrial parks. In addition, technologies such as compressed air energy storage, flow battery energy storage, and flywheel energy storage are also developing rapidly. Several large-scale projects are under accelerated construction, including 300,000-kilowatt class compressed air energy storage projects, 100,000-kilowatt class flow battery storage projects, and megawatt-level single-unit flywheel energy storage projects. New technologies, such as gravity energy storage, liquid air energy storage, and carbon dioxide energy storage, are also being implemented. Overall, the field is demonstrating a trend of diversified development.

Next, the NEA will strengthen the tracking of new types of energy storage pilot demonstrations and advance innovation in new energy storage technologies. We will enhance the mechanisms for grid connection, dispatch and operation of new energy storage systems while promoting their regulatory role. We will proactively plan and strengthen top-level design, promote the scientific and efficient allocation of new energy storage in new energy bases, and promote the high-quality development of the new energy storage industry. Thank you.