Fed Unveils Stablecoin Rules Under GENIUS Act 
Trump, Xi Focus on Trade and AI at White House Summit 
Oil Prices Ease as Iran Tensions Clash With Diplomacy Hopes 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Dollar Holds Near Two-Month High as Yen Approaches 160 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Add as a preferred source on Google
China’s sweeping reforms to its electricity market are rapidly transforming the economics of energy storage, driving a surge in both domestic deployment and global exports of battery technology. As international demand for power storage accelerates—fuelled by the expansion of renewable energy and energy-hungry AI data centres—Chinese energy storage manufacturers are strengthening their already dominant position worldwide.
Chinese companies are expected to record a 75% year-on-year increase in global shipments of lithium-ion battery cells used for energy storage, according to industry estimates. In the first 10 months of the year alone, China exported more than $66 billion worth of batteries for electric vehicles and energy storage, making batteries the country’s most valuable clean-technology export for the third consecutive year. This growth reflects booming demand from Europe’s ageing power grid, the rapid build-out of renewables in the Middle East, and soaring electricity needs from data centres across the United States and Asia.
Globally, Chinese manufacturers control the supply of battery cells that underpin energy storage systems. All six of the world’s largest energy storage cell suppliers—including CATL, BYD, EVE Energy, and CALB—are based in China, with only Japan’s AESC breaking into the global top 10. Several firms have reported record shipment volumes in 2024, while analysts say many factories are operating at full capacity to meet demand.
Domestically, China’s electricity market overhaul is a key catalyst. Reforms introduced in June replaced fixed power prices with market-based auctions, allowing battery storage operators to profit by charging during low-price periods and discharging when prices spike. As a result, battery storage facilities are running longer and becoming economically viable after years of underutilisation. This shift is reinforced by a $35 billion government plan to nearly double national battery storage capacity by 2027, alongside new provincial subsidies and capacity payments.
With global investment in battery storage forecast to reach $66 billion this year and installations continuing to rise, Chinese energy storage manufacturers are well positioned to capture a significant share of future growth, despite potential regulatory risks in overseas markets.
