Jin Keyu, a professor at the London School of Economics and Political Science: China's new energy vehicles will drive the development of the global industrial chain

Tencent News frontline

2024-06-28 18:30Tencent News front-line official account

Tencent News "Frontline"

Written by Zhu Yuting and edited by Liu Peng

"The world is going through a structural change [of green transition], largely driven by new technologies and climate change, and China is a pioneer in achieving this structural change."

On June 27, Jin Keyu, a professor of economics at the London School of Economics and Political Science, said at the 2024 Summer Davos Forum that because China's green transformation started relatively early, China's battery electric vehicles and solar cells are developing rapidly, which belong to the global supply chain.

She shared the findings of a study that China's rise in recent decades has led to the development and progress of many developing countries around it. Similarly, China's renewable energy and new energy vehicle industries will play the same role.

"China is investing heavily in setting up factories in Europe and establishing joint ventures in Poland, Spain, etc., such as factories for electric vehicle batteries and electric vehicle platforms, and this cooperation model is different from before."

She said that in terms of demand and production capacity, 45 million electric vehicles will be needed by 2040 to achieve a green transition, and trillions of dollars of investment will be needed, and China will play a very important role in this process.

Talking about the competition between countries and regions, Jin Keyu pointed out that China's new industries are booming, and many countries will draw inspiration from China's experience.

"Our country's industrial policies have eventually formed better market competition, and these industrial policies are also relatively positive, and other countries are also learning."

She said the competition is beneficial, not harmful.

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