Xi Jinping Draws Attention with Draft Announcement During European Tour
China has begun to regulate the pace of battery production. Amid concerns over China's overproduction centered on the United States and Europe, attention is focused on how this response from China will impact the industry.
According to Bloomberg and others on the 8th, China's Ministry of Industry and Information Technology released a draft on the standard conditions and disclosure management methods for the lithium battery industry on its website and began collecting public opinions.
The draft includes provisions encouraging related companies to reduce manufacturing projects that simply expand production capacity, strengthen technological innovation, improve product quality, and reduce production costs. It also sets minimum standards for the energy density of lithium batteries and other standard battery specifications.
The release of this draft by the Chinese government came during Chinese President Xi Jinping's tour of Europe. Bloomberg analyzed that this appears to be an effort to slow down the rapid expansion of the battery industry in response to claims of overproduction from Europe and the United States.
The Chinese battery industry has been one of the main targets of criticism from the United States and Europe.
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