The market capitalization for lithium batteries in China is estimated at 190 billion yuan (approximately 30 billion dollars) and is projected to reach 268 billion yuan (42 billion dollars) by 2026.
From 2001 to 2008, early players like BYD, Shenzhen Bike Battery, and Tianjin Lishen Battery have grown their investments in battery research and brought growth to the Chinese lithium battery industry. However, there were moments of stagnation during this period with issues of scaling and meaning the demands from across the world.
In 2019, there were 131.6GWH produced in China, and in the 2023, reached to 940GWH The battery production concerning the consumer demand is near saturation in China, however consumer demand for lithium batteries applications on vehicles is expected to have continual growth in the upcoming decades.
Disasters caused by low temperature, frost and snow made a total direct economic loss of 12.5 billion yuan. Oceanic disasters caused a direct economic loss of 2.4 billion yuan. The country recorded 27 earthquakes with magnitude 5.0 and over, causing a direct economic loss about 22.4 billion yuan.
Specifically, there were 4,519 newly established enterprises receiving direct investment from countries along the Belt and Road (including the investment in China via some free ports), down by 15.3 percent; and foreign capital directly invested in China reached 89.1 billion yuan, up by 17.2 percent, or 13.7 billion US dollars, up by 18.6 percent.
The national general public budget revenue reached 21,678.4 billion yuan in 2023, up by 6.4 percent over that of the previous year, of which tax revenue amounted to 18,112.9 billion yuan, up by 8.7 percent. The national general public budget expenditure reached 27,457.4 billion yuan, up by 5.4 percent over that of the previous year.