The term "new three" has gained popularity recently among Chinese authorities and state media, who emphasize how well solar cells, lithium-ion batteries, and electric vehicles (EVs) have performed in propelling China's exports this year. Over 80% of the world's exports of solar cells, over 50% of lithium-ion batteries, and over 20% of electric vehicles come from China.Between January and March, total exports of EVs, lithium-ion batteries, and solar cells—the components of solar panels—amounted to 264 billion yuan (US$36 billion), up 66.9% year over year, according to Lv. He continued, saying that taken collectively, they increased China's total export growth rate by two percentage points.
According to the report, Chinese enterprises accounted for a smaller but still noteworthy 52.3% of lithium-ion battery exports and 23.4% of electric vehicle exports, respectively. According to Rystad Energy, China's manufacturing contribution to the world at every stage of solar panel manufacture surpassed 80% of the total in 2022. The results are shown in the Solar Market Report 2023 published by the business intelligence and research firm with its headquarters in Norway.
In an effort to promote the research and application of renewable energy, China passed a renewable energy law back in 2005. Two years later, the national government elevated the energy sector to a strategic plan with two important measures designed to promote the development and production of renewable energy. The goals of the sector were raised above merely reducing pollution thanks to the National Climate Change Programme and the Mid- to Long-Term Development Plan for Renewable Energy.