China sees business exits in clean energy sectors as tech startups surge -

China recorded an orderly exit of companies from the new energy vehicle, photovoltaic and lithium battery sectors during the first half of this year, while emerging technology industries continued to attract strong business activity, the country’s top market regulator said.

The State Administration for Market Regulation said 7,632 new energy vehicle-related companies, 5,089 photovoltaic firms and 155 lithium battery companies were deregistered during the first six months of the year. The figures represented year-on-year increases of 4.6 per cent, 8.3pc and 12.3pc, respectively.

At the same time, frontier technology industries maintained rapid growth. Around 55,000 new companies were established in the generative artificial intelligence sector during the first half, marking a 28pc increase from the same period last year.

The humanoid robotics industry recorded even stronger expansion, with 116,000 new companies registered, up 9.5pc year-on-year. The regulator said the figures reflected growing investment and entrepreneurial activity in emerging industries expected to become new drivers of economic growth.

China’s high-tech manufacturing sector also continued to expand. By the end of June, the country had around 330,000 high-tech manufacturing enterprises, including 15,000 companies established during the first half of the year.

Some specialised manufacturing segments recorded particularly rapid growth. The number of new companies involved in spacecraft and launch vehicle manufacturing increased 185.7pc year-on-year, while optical fibre and cable manufacturing rose 129.4pc. New integrated circuit manufacturing companies increased by 24.2pc.

The figures indicate a shift in China’s industrial landscape, with some mature clean-energy segments undergoing consolidation while investment and entrepreneurship increasingly move towards advanced technologies and high-tech manufacturing. – ERMD

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