Cnr.cn:

My question is still about renewable energy. Mr. Zhang just mentioned that China's contribution exceeded half of the newly installed global renewable energy capacity in 2023. Furthermore, China's wind power and photovoltaic products have been exported to more than 200 countries and regions worldwide. I'd like to ask: What experiences have we gained in promoting the utilization of renewable energy? Thank you.

Zhang Jianhua:

Thank you. I'll invite Mr. Li Chuangjun to answer this question.

Li Chuangjun:

Thank you for your question. Since the 18th National Congress of the CPC, General Secretary Xi Jinping has on many occasions made important instructions on the development of renewable energy. Guided by the new energy security strategy of "Four Revolutions and One Cooperation," our country's renewable energy development has achieved leapfrog progress, moving from small-scale to large-scale, and from catching up to leading the way. China's renewable energy development has garnered worldwide attention. Here are the main experiences we've gained:

First, we have benefited from vast market potential. As the world's largest energy producer and consumer, our country has enormous power demand and a strong need for new installed capacity. This vast space has provided ample opportunities for renewable energy development in China. As Mr. Zhang mentioned, of the 510 million kilowatts of the global renewable energy capacity additions in 2023, China's contribution exceeded 300 million kilowatts, surpassing the rest of the world combined.

Second, we have benefited from proactive policy support. Since the implementation of the Renewable Energy Law, a comprehensive policy support and regulatory system for renewable energy has been gradually established, encompassing laws and regulations, strategic planning, industrial policies, standard systems, and supervision and management.

Third, we have benefited from timely policy adjustments. We have promptly adjusted and improved support policies. In the early stages, we reduced the price of on-grid electricity for new energy generation projects annually based on technological advancements and cost reductions in wind power and photovoltaics. For example, the benchmark on-grid electricity price for photovoltaics in Class III resource areas in 2020 was 0.06 yuan lower than in 2019. In recent years, we have gradually shifted the development of the new energy industry from policy-driven to market-driven, vigorously promoting wind power and photovoltaics into a new development stage and having achieved grid parity through competitive allocation.

Fourth, we have benefited from extensive market participation. New energies like wind power and photovoltaics enjoy a high degree of marketization, with an open market environment, diverse market entities, active private enterprises, sufficient market competition, and vibrant innovation. Taking photovoltaics as an example, there are over 100 listed companies in China's photovoltaic industry.

Fifth, continuous technological innovation has been key. Our country's renewable energy industry has consistently pursued technological innovation, satisfying ever-changing market demands through accelerated iterations of technology and products. Currently, China's wind power sector has reached an internationally advanced level in areas such as large-scale turbines and floating units. Crystalline silicon photovoltaic technology continues to upgrade, further consolidating and enhancing China's leading position internationally. Thank you.