Subsidies helped China dominate solar, EV, battery and wind technology markets, lowering costs worldwide.
Key takeaways
China sent US$132 billion in clean technology and investment to the developing world last year, nearly matching the total climate finance from wealthy nations in 2024. This strategy, driven by domestic subsidies, has expanded China's global market share in green manufacturing.
- China's US$132 billion in clean-tech exports to developing nations last year was the largest contribution to carbon-dioxide reduction.
- This amount nearly matches the total grants, loans, and private finance wealthy countries sent to poorer nations in 2024.
- China's approach relies on domestic subsidies to dominate green manufacturing, unlike the loan-heavy climate finance from rich nations.
Summarised automatically by AI from the original article by Astro Awani. AI can make mistakes, so check the original for details.
SINGAPORE: China sent US$132 billion in clean technology and investment to the developing world last year, by far the largest contribution to carbon-dioxide reduction of any country.
In fact, the nation’s green-manufacturing juggernaut, built in part through heavy subsidies from Beijing, nearly matches the current total of grants, loans and private finance that all wealthy countries sent to poorer ones in 2024 to help fight climate change, according to a Reuters analysis.
Those loans and grants stemmed from a climate-finance program the world’s wealthiest nations agreed to at a 2009 United Nations climate conference on the premise that industrialized nations made outsized contributions to the climate crisis – and had outsized means to help poorer countries pay to clean it up.
