China's lithium-ion battery sector sustained its growth momentum in the first two months of 2024, with total output rising 15 percent year on year, official data showed on Tuesday.
The sector saw its total output of lithium-ion batteries exceed 117 gigawatt-hours (GWh) in the January-February period, according to data from the Ministry of Industry and Information Technology.
The pace aligns with the rapid growth of the country's booming electric vehicle industry, which largely relies on the batteries, accounting for about 50 GWh of the total for the period. Another 17 GWh of battery capacity was produced for power storage.
In terms of primary materials, 277,000 tons of positive electrode materials were produced, up 4.5 percent year on year. The output for negative electrode materials registered at 230,000 tons, up 5.6 percent compared to the same period last year.
China's Li-ion battery output up 15 pct in Jan-Feb
The high-level opening-up and favorable business environment have boosted the confidence of foreign enterprises to invest more in China, said Zhao Ping, spokeswoman of the China Council for the Promotion of International Trade (CCPIT), at a press conference in Beijing on Sunday.
Zhao said that in the first quarter of this year, the council conducted surveys on over 600 foreign-funded enterprises, which found that they were generally satisfied with the business environment in China.
Regarding specific services, over 90 percent of respondents were satisfied or more than satisfied with acquiring business sites, market access and seven other indicators, according to the survey.
"European-invested enterprises interviewed expect that their profit margins in China will increase over the next five years, with nearly 60 percent anticipating higher returns which is higher than in other regions. The proportion of foreign-invested enterprises planning to increase their investment in China this year has risen by 2.1 percentage points compared to the previous period. North American companies surveyed exceed the overall average by more than 4.5 percentage points. Our data indicates that China's market maintains a comprehensive advantage in attracting foreign investment. Coupled with a series of policies aimed at stabilizing the economy, promoting openness, and attracting foreign investment that have been effective since the first quarter, China's favorable investment environment and high level of openness have boosted the confidence of foreign enterprises in investing in China," said Zhao.
High level opening-up boosts foreign investment in China: spokeswoman
