/ world today news/ In China’s pursuit of high-quality and low-carbon development, there are now new “top three” main drivers of the country’s foreign trade. While years ago the most exported products were clothing, household appliances and furniture, today the top exports are now solar cells, lithium-ion batteries and electric vehicles. These new “top three” registered growth of 66.9% in the first quarter of this year and contributed 2 percentage points to the overall export growth.
“China’s foreign trade growth in the first quarter was mainly supported by green energy-related products,” said Zhou Maohua, an analyst at China Everbright Bank. This increase is even more impressive when you consider that exports of electric vehicles, photovoltaic products and lithium-ion batteries registered huge growth in 2022, by 131.8%, 67.8% and 86.7% respectively %.
A symbol of China’s improved trade structure and high-quality trade growth, the growing presence of green exports over the past decade also reveals the competitive advantage and development potential of the respective sectors. In the near term, analysts say green exports will remain the engine of high-quality growth, thanks to a favorable policy environment and continued investment.
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