National Development and Reform Commission and National Energy Administration Increase Support for New Energy Storage Industry

The National Development and Reform Commission and the National Energy Administration have issued the "14th Five-Year Plan for New Energy Storage Implementation Plan," proposing to increase support for the new energy storage industry. The plan encourages private enterprises to collaborate with universities and research institutions for innovative development and supports private enterprises' participation in the selection and investment of major scientific and technological projects in the new energy storage field. It will utilize new policy financial tools, medium- and long-term loans for manufacturing, and special bonds from local governments to support the construction of eligible new energy storage projects. At the same time, financial institutions are encouraged to increase their green financial support for new energy storage.

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