Out with the old, in with the new

ZHANG YUJUN/FOR CHINA DAILY In 2023, Chinese car manufacturer BYD surpassed Tesla and took the lead in the global electric vehicle market by selling over 3 million vehicles. China's great productivity in generating clean and renewable energy, offering high-quality goods at low prices, is helping other countries develop their own clean energy production. China's global role in the energy transition market can be exemplified by Brazil's production of renewable energy, which primarily uses tools made in China: Brazilian solar energy production multiplied 13-fold between 2017 and 2022, making the country rank the eighth globally, led by China, the US and Japan. It develops through productivity growth resulting from innovation, whether by creating a new product, new energy sources, a new production process, new capital goods, or the opening of new markets.