This post was originally published on this site.
For decades, New York and London have defined the flow of global capital. But while markets still chase short-term returns in US equities, the next great wave of productive investment is taking shape in East Asia, led by China’s financing, manufacturing and export of the clean technologies that are remaking the global economy.
China is already deploying renewables, grid infrastructure and storage at a speed and scale unseen anywhere else, and can produce almost a terawatt of new renewable-energy capacity each year, enough to replace more than 300 nuclear power plants. In 2024 alone, clean-energy industries, including solar, wind, batteries, grids and electric mobility, accounted for more than 10 per cent of China’s gross domestic product.
Advertisement
The technologies developed and scaled in China have driven down global costs for everything from photovoltaics to grid batteries, making large-scale electrification economically viable across much of the developing world. As a result, China’s emissions may already be declining, and its exports of low-cost clean-energy systems are speeding up across the rest of Asia, Africa and Latin America.
Hong Kong already ranks among the world’s leading financial centres and leads Asia in green and sustainable bond issuance. Its asset and wealth management sector now exceeds HK$35 trillion (US$4.49 billion), supported by strong inflows.
Advertisement