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Solar power to see exponential growth, China leading global green transformation: LONGi Chairman

China

China

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Solar power to see exponential growth, China leading global green transformation: LONGi Chairman

2025-01-25 14:10 Last Updated At:14:37

A representative of Chinese solar photovoltaic enterprises at the 2025 World Economic Forum (WEF) foresaw an exponential growth in clean energy and recognized China's significant role in driving the global green transformation.

One of the key themes at the WEF in Davos is Safeguarding the Planet. Among the influential voices in clean energy was Zhong Baoshen, Chairman of China's LONGi Green Energy, a world's major manufacturer of solar module. He highlighted the rapid advancements in solar photovoltaic (PV) energy worldwide.

"As of today, solar photovoltaic energy has exceeded 2 terawatts globally. But it's important to note that reaching the first terawatt took 68 years—from 1954 to 2022. However, we achieved the second terawatt in just 3 years, showing how fast the growth is. According to the International Energy Agency, global solar capacity will reach 4 terawatts by 2030, which is just 6 years away. Personally, I believe it will exceed 5 terawatts," said Zhong.

Development of other clean energy sources is also on a fast track. LONGi Green Energy is investing in hydrogen energy and green methanol, essential technologies for the global decarbonization endeavor.

 "We are also focusing on hydrogen energy and green methanol. We believe that to fully decarbonize the world, we'll need more than just electricity; we'll also need liquid and gaseous fuels for industries like shipping. The key to decarbonizing these liquid and gaseous fuels is hydrogen. By developing hydrogen energy, we can create green methanol, which will help support a comprehensive global effort to reduce carbon emissions," he added.

Speaking of international interactions, Zhong noted that trade barriers still exist amid the global expansion of green energy companies. However, he affirmed China's instrumental role in accelerating the global green energy transformation. 

"I think that most countries are open to using clean energy as green energy companies expand internationally. However, some countries want to have local solar manufacturing, which can create trade barriers. Right now, China is a major player in both solar and wind energy worldwide. Whether it's in technology or production capacity, China has made the biggest contribution to the global green energy transition," said Zhong.

Solar power to see exponential growth, China leading global green transformation: LONGi Chairman

Solar power to see exponential growth, China leading global green transformation: LONGi Chairman

Residents living in Canada's biggest city of Toronto have expressed optimism that Canadian Prime Minister Mark Carney's official visit to China can unlock new economic opportunities, particularly in key fields such as artificial intelligence and infrastructure.

Carney is set to arrive in China on Wednesday to begin a four-day visit at the invitation of Chinese Premier Li Qiang, marking the first trip by a Canadian prime minister to China since 2017.

A Chinese foreign ministry spokesperson confirmed Chinese President Xi Jinping will meet with Carney during his stay to provide new strategic guidance for further improving and developing China-Canada relations.

Giving their assessment of the significance of the visit and the outcomes they hope to see achieved, local people in Toronto pointed to the importance of deepening cooperation and view the high-tech sector as one of the most pivotal areas where ties can be enhanced.

"I think, of course, China is probably the leader in AI and new technologies. So, I think Canada can really benefit from Chinese expertise on some of the chip manufacturing or just the use of AI in the medical field, in every other finance field and everything. So, I think this can be very important for Canada to learn from China," said Raman, the provincial liaison manager at the Canadian Federation of Independent Business.

"I think it is a good idea to strengthen relations with other countries and other trade partners that have been probably more consistent. And especially with things going on in electronics right now and chip manufacturing, I do think that it makes sense at this point in time to be reaching out to China," said Jen, a local nurse.

Some see Carney's visit as an opportunity to broaden the economic agenda in various other key areas.

"I'm actually pretty looking forward to it because they could talk a lot about trade. That could be a good opportunity for Canada and China to explore some other export opportunities on energy, and also, maybe pipeline building, infrastructure building, and also, real estate investment and agriculture," said Xiong Lulu, an equity research analyst.

Looking ahead, many residents emphasize that much depends on whether Carney's visit can translate into concrete agreements.

"It would be nice. I hope there's some kind of good relationship between China and Canada. That would be like a great opportunity that we would miss if we didn't create that relationship with them. So, hopefully, in hindsight, [in] 2026 it does happen," said John, a software developer.

"I think if they can settle some trade deals, that will be great. So, I think it will be great for the Canadian economy," said Xiong.

President Xi and Carney last met on the sidelines of the 32nd APEC Economic Leaders' Meeting in the Republic of Korea (ROK) in October, with both sides agreeing to resume exchanges and cooperation in various fields and jointly advance the development of the China-Canada strategic partnership.

Toronto residents optimistic about Canada-China cooperation prospects

Toronto residents optimistic about Canada-China cooperation prospects

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