China Develops Deep-Sea Cable Cutting Device, Raising Security Concerns

China invested approximately 6.8 trillion yuan (about $1.12 trillion) in clean energy during 2024, nearing global fossil fuel investment levels, according to a report by Carbon Brief, a U.K.-based research organization. This marks a slowdown from the previous year's 40% growth to just 7%, attributed to overcapacity in the clean energy sector. Notably, more than half of the investment was driven by the electric vehicle, battery, and solar industries.
Despite the deceleration, these sectors accounted for 10% of China’s GDP in 2024, up from 9% the previous year. Researchers noted that while clean energy output grew three times faster than the overall economy, its contribution to economic growth fell from 40% to 26% in 2024 due to a combination of deflation and declining prices for renewable equipment.
The report underscores the importance of setting more ambitious future targets to sustain growth in clean energy investments as China moves forward in its five-year planning cycle, which ends in 2025.