reply Multinational companies are expanding their investments in China's energy market

China aims to peak its carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060. China has made a solemn commitment to addressing climate change. As China's energy mix continues to be substantially optimized and the process of clean and low-carbon energy continues to accelerate, there are huge opportunities in the Chinese market. Many foreign companies in China are readjusting their business layout and expanding their investment in China's energy market."Accelerate green transformation to provide broad space for sustainable energy development"The Beijing Declaration on Wind Energy, released at the 2020 International Wind Energy Conference in Beijing, predicts that in order to achieve the carbon neutral initial phase target, China will add more than 60 GW of wind power per year after 2025 and at least 3,000 GW by 2060.At the site of the second phase of the Luanhe Estuary Wind Power Project in Changli, Hebei province, the red wind blades waiting to be suspended on the ground look like giant petals growing on the open land of the plain. Its fan adopts Vestas' low wind speed tower cylinder technology, and the hub of the fan is 162 meters high. It is reported that the Luanhe Estuary Wind Power Project, with a total investment of 1.696 billion yuan, has a planned capacity of 199.5 megawatts and an annual generating capacity of 600 million kilowatt-hours, effectively promoting the development of the local economy and environmental protection."China will implement the 2030 target of nationally determined contributions to climate change, speed up green transformation and provide broad space for sustainable energy development." Vestas, which is headquartered in Denmark, entered the Chinese market in 1986 and has become the largest foreign wind power equipment manufacturer in China by cumulative installed capacity since 2018, said Thomas Keller, senior vice president and China president of Vestas Wind Technology Group.During the epidemic prevention and control period, the company still made positive progress in China last year, and won new orders from several enterprises such as China Three Gorges New Energy (Group) Co., Ltd. During the third Expo, the company also signed cooperation agreements with Zhangye Municipal Government of Gansu Province, Longyuan Electric Power Overseas Investment Co., Ltd., and PowerChina Guizhou Engineering Co., Ltd."Buy in China, make in China, sell in China." As the world's largest wind energy market, China's wind power is transforming from high-speed development to high-quality development, Keller said. Vestas has tailored its new models specifically to the Chinese market. The largest integrated production base of wind power equipment in the world is located in Tianjin, covering an area of 400,000 square meters and employing about 2,000 people. The total output value of the company has been 50 billion yuan since the production began in 2007."Our philosophy is adapted to the Chinese market, and our products will go global from here."As the first international energy company to enter China for offshore oil and gas exploration, Total has been in the Chinese market for nearly 40 years. In recent years, with the acceleration of China's green transformation, Total has also actively adjusted its business layout, increased investment in natural gas, new energy and other areas, strengthened cooperation with local enterprises, and deeper integration into the Chinese market.In collaboration with local smart energy technology companies in China, Total Vision Energy Services (Shanghai) Co., Ltd. has designed distributed photovoltaic projects for Zhongtian Steel to provide digital integrated energy solutions, said Zhao Weiliang, chairman of Total China. The project adopts the mode of "self-use and full consumption", using the idle roof area of about 95,000 square meters, generating more than 10 million kilowatt-hours of electricity annually, saving about 4,000 tons of standard coal annually and reducing nearly 10,000 tons of carbon dioxide emissions. "The reduction in CO2 emissions is equivalent to planting nearly 200,000 trees."Industry insiders generally believe that the proposed carbon neutral target will accelerate the leapfrog development of wind, solar and other new energy sources. The high proportion of renewable energy will put forward higher requirements on the flexible regulation ability of the power system, which will bring new opportunities for the development of energy storage. In November 2020, High-tech battery manufacturer Saitford, a subsidiary of Total Group, opened a new manufacturing center for energy storage solutions in Zhuhai, covering 6,600 square meters, with an annual capacity of about 480 megawatt hours.In recent years, China has been making great efforts to promote the connectivity of natural gas infrastructure and the building of gas storage capacity, as well as fair opening to third-party market players, Zhao said. As China continues to explore the process of energy transition, Total's cooperation with its Chinese partners has expanded from traditional energy development and sales to the entire industrial value chain, from China's local to the global market. "Our philosophy is tailored to the Chinese market, and our products will go global from here.""We look forward to exploring more business development opportunities in the Chinese market"Last year, thanks to the gradual recovery of the Chinese economy, Bosch Group's business in China grew to a record high, with sales in 2020 reaching 117.3 billion yuan, an increase of about 9.1% compared with 2019. For the first time, the Chinese market has become the largest single market for the Bosch Group.Also last year, Bosch made a breakthrough in engine technology in close cooperation with China's Weichai Group. Together, the two sides will raise the diesel engine thermal efficiency of Weichai heavy-duty commercial vehicles to 50%. According to the estimation of Weichai, based on the current industry level of 46%, diesel consumption and carbon emissions can be reduced by 8% if the thermal efficiency is increased to 50%. At present, China has 7 million heavy-duty diesel engines in the market. If all the diesel engines are upgraded, the annual fuel saving will be 33.32 million tons and carbon dioxide emissions will be reduced by 104.95 million tons.Bosch and Weichai also have in-depth cooperation in the fields of new energy batteries and driving assistance systems, aiming to make commercial vehicles more energy efficient and intelligent. "Electrified transportation will be a major core business for the company for the foreseeable future," said Volkmar Dunner, chairman of the board of Bosch Group."China's new energy market is developing in full swing, providing good growth opportunities for suppliers. The goal of reaching carbon peak and carbon neutral will further promote the transformation of automobile consumption structure and industrial structure to electric from the policy level." Chen Yudong, president of Bosch (China) Investment Co Ltd, said that to seize the development opportunities, Bosch's products for hybrid and electric vehicles, such as 48-volt batteries and electric Bridges, were the first to achieve mass production in the Chinese market. The Bosch Wuxi Hydrogen Fuel Cell Center is its first fuel cell center outside Germany and is scheduled to start small batch production in 2021. Last December, the company also signed a joint venture agreement with Qingling Automobile (Group) Co., Ltd. to develop and sell fuel cell systems."Bosch believes strongly in the long-term growth potential of the Chinese economy and will continue to invest in strategic areas to serve the Chinese market. We look forward to further business development opportunities in China." Chen Yudong said.