by MA Yueran
China's new energy exports surged in the first quarter, supported by global demand and front-loaded shipments ahead of policy changes.
Exports of mechanical and electrical products rose 18.3% year on year to 4.34 trillion yuan, accounting for 63.4% of total exports, WANG Jun, vice minister of the General Administration of Customs, said.
Exports of electric vehicles, lithium batteries and wind equipment rose 77.5%, 50.4% and 45.2%, respectively.
Lithium battery exports reached 167.23 billion yuan, up 50.4%, while solar cell exports rose 30.5% to 60.09 billion yuan, customs data showed. In March alone, solar export value jumped 78% year on year.
The surge partly reflects front-loaded shipments before policy changes. China will scrap export tax rebates across the solar supply chain from April and cut battery rebates before phasing them out by 2027.
Manufacturers ramped up production and shipments ahead of the deadline, while overseas buyers brought forward orders, boosting first-quarter exports.
Geopolitical tensions have also disrupted energy supply chains, prompting countries to accelerate the shift toward alternatives.
China exported 954,000 new energy vehicles in Q1, up 120%, including 371,000 units in March, according to industry data.
Media reports citing dealers in Asia say high fuel costs are driving demand for EVs.
