On January 28, the first meeting after the Spring Festival in Changzhou City 
clearly proposed to build a new energy capital. With a total investment of more 
than 47 billion yuan, a total of 15 major new energy industry projects have 
been signed and settled. A series of policies and measures have been 
introduced, focusing on the four links of "generate, store, transmit, and 
apply", to increase the scale of the new energy industry and to make market 
value of the capital market above "two trillion yuan" by 2025, according to the 
News Center of Changzhou New Energy Capital Construction Promotion Conference.

Three years ago, in the movie Pacific Rim, many people were astonished that the 
giant fighter Crimson Typhoon was made in Changzhou. Why Changzhou? Now, 
Changzhou gives the answer with strength. Changzhou is well-known for its 
advanced manufacturing industry. The number of national-level manufacturing 
individual champions and industrial awards leads similar cities in China.

In terms of economic aggregate, Changzhou will be China's next new 
trillion-dollar GDP city. When it comes to per capita GDP, Changzhou has long 
been among the top ten. People like Changzhou for the park as China Dinosaur 
Park and Oriental Salt Lake Resort. The locals are good at making money with 
creativity. Now, Changzhou is aiming at a new track: the future global capital 
of new energy.

More than ten years ago, Changzhou had already deployed new energy in many 
fields. At present, Changzhou's new energy industry agglomeration has reached 
the fifth place in China. CATL, SK, CALB, and SVOLT, four leading companies of 
power battery are all set in Changzhou. The power battery drives the 
accumulation of the vehicle. With the arrival of Li Auto and BYD, the 
production and sales of Changzhou NEVs achieved over 340,000 vehicles in 2022.

Energy storage and hydrogen energy are also the focus of Changzhou's efforts. 
In 2022, the Changzhou Jintan salt cavern compressed air energy storage project 
was completed and put into operation. This is the only national project in the 
field of compressed air energy storage and the world's first non-combustion 
compressed air energy storage power station. Changzhou people believe that 
hydrogen energy will be today's lithium battery, and they will lead the future.

Source: News Center of Changzhou New Energy Capital Construction Promotion 
Conference