Changzhou secures fourth spot nationwide in new energy industry concentration, as per Hurun China New Energy Cities 2023 rankings released on Monday.
Shenzhen and Shanghai maintain their positions as China's top new energy cities. Suzhou takes third place, while Beijing and Changzhou tie for fourth. Guangzhou climbs to sixth place this year, while Wuhan drops to seventh, followed by Chengdu showing improvement over the previous year. Tianjin enters the top 10 list, while Hefei slips to tenth place.
This is the second consecutive year for Hurun Research Institute to publish this list.
Notably, Changzhou moves up one spot to claim fourth place and remains the only second-tier city in the top 10. Additionally, Changzhou retains its position as the most attractive city for investment, highlighting the city's immense potential in the new energy industry.
In recent years, Changzhou's new energy sector has become a crucial driver of the city's industrial growth, with an output value exceeding 500 billion yuan in 2022. Electric vehicle (EV) sales and EV battery industries account for 50 percent of Jiangsu province's total.
Changzhou has established itself as a leading hub for new energy companies, hosting headquarters or manufacturing facilities of major players like CALB, Svolt Energy, Trina Solar, CATL, Li Auto, BYD, BTR, and Senior Technology Material.
With a comprehensive industry ecosystem in place, Changzhou's new energy sector is projected to surpass a one-trillion-yuan output value by 2025, and the market value of publicly listed new energy enterprises in the city is expected to exceed one trillion yuan.
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