China’s industry ministry pledged to help power equipment industry achieve 9% annual growth in 2023, 2024

 

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China’s industry ministry pledged to help the country’s power equipment industry achieve annual growth of 9% this year and next, by stepping up domestic purchases and boosting exports.

“Despite the robust demand, the industry’s revenue growth in the second half of the year is under pressure and uncertainties remain in the overseas market,” it said.

Domestic energy projects are encouraged to step up their purchases of wind, solar and nuclear power equipment to support the market and the ministry will accelerate the launch of verification platforms for large-scale wind turbine blades and support innovative products, it said.

It will also encourage more companies to cooperate with developing countries in renewable energy sectors to promote exports.