Guangzhou gives energy storage industry a boost

The city government of Guangzhou, Guangdong province, issued opinions recently about advancing the new energy storage industry. It aims to lift annual revenues in this field to 100 billion yuan ($13.68 billion) by 2027.

The city booked 15 billion yuan in the sector last year, Mou Zhiping, deputy director of the city's development and reform commission, said at a news conference on Tuesday.

The document emphasized progress in technologies as seen in the convergence of academics with industry, synergy in the industrial chain, the expansion of applications and business models and improved technological standard system.

It encourages innovation and lists key technological paths to receive support.

Efforts will be made to attract high-level talent and teams, and financial service providers will be encouraged to support the new energy storage industry, Mou said.