China’s ‘New Three’ Exports Surpass RMB 1 Trillion: Key Drivers

Summary

China's exports of the 'new three' – new energy vehicles, lithium batteries, and photovoltaic products – topped RMB 1 trillion, fueled by rising global green demand and carbon neutrality targets. Cost advantages stem from scaled industrial clusters in the Yangtze River Delta and Pearl River Delta. Rapid technology iterations continue, with PV cells advancing to TOPCon and HJT, and BYD refreshing models three times yearly.

Private firms lead exports, while cross-border e-commerce and overseas warehouses grew 3.3 times year-on-year in the first half. Markets are diversifying: ASEAN is now the largest trade partner, RCEP unlocks benefits, a moderately weaker yuan boosts competitiveness via hedging tools, supportive policies streamline customs, and external pressures spur innovation.

Commentary

China's 'new three' exports surpassing RMB 1 trillion highlight its advantages in full industrial chain scale and technology iteration. For New Zealand SMEs, improved cost-effectiveness of Chinese solar panels and lithium batteries cuts procurement costs for local storage, residential solar installers, and EV dealers, accelerating the country's low-carbon transition. However, heavy reliance on a single supply source poses geopolitical and logistics disruption risks.

Companies could diversify supply chains and use China-NZ tariff preferences under RCEP to expand complementary cooperation, such as pairing NZ geothermal technology with clean energy. In the global green race, pragmatically leveraging China's manufacturing strengths while managing risks may offer a viable path.

Keywords: new three, exports, new energy vehicles, lithium batteries, photovoltaic, industrial chain, cost advantage, technology iteration, private enterprises, cross-border e-commerce

Source: Sina News