Recently, we learned from the National Energy Administration that in 2023, China's energy investment maintained rapid growth. According to monitoring, the national key energy projects under construction and planned to start construction within the year completed investments of approximately 2.8 trillion yuan. In terms of categories, the completed investment in conventional projects and new business projects increased by 16% and 152.8% year-on-year, respectively. The completed investment in the eastern, central, and western regions increased by 28.5%, 13.6%, and 22.5% year-on-year, respectively. Retry Reason

New energy investment grew rapidly. In 2023, the completed investment in new energy increased by over 34% year-on-year. The completed investment in solar power generation exceeded 670 billion yuan, and the year-on-year growth rate of centralized photovoltaic investment in the three provinces of Hebei, Yunnan, and Xinjiang all exceeded 100%. The completed investment in wind power exceeded 380 billion yuan, with the investment in onshore wind power in the three provinces of Liaoning, Gansu, and Xinjiang accelerating, and the investment in newly built large-scale offshore wind power projects in the two provinces of Shandong and Guangdong being concentrated. China has become an indispensable force in developing clean energy in the world. In 2023, the global renewable energy installed capacity increased by 510 million kilowatts, of which China contributed more than 50%. Retry Reason

The investment in supporting and regulating power sources grew relatively fast. In 2023, the completed investment in supporting and regulating power sources increased by over 12% year-on-year. The nuclear power projects under construction are advancing comprehensively, and the newly approved projects within the year are accelerating the formation of the physical workload. The investment in large-scale hydropower projects continues to recover and improve. Retry Reason

The investment in new energy formats is growing strongly. The completed investment in integrated energy is proliferating, and several source-network-load-storage integrations and multi-energy complementary projects in the northwest region are accelerating their progress. The electrochemical energy storage investment in the six provinces of Shandong, Hunan, Guangdong, Chongqing, Gansu, and Xinjiang is growing rapidly. Several green hydrogen production projects in the two provinces of Inner Mongolia and Xinjiang are advancing in an orderly manner.