Key facts
- China has halted approvals for new energy-storage battery manufacturing plants.
- The move is driven by concerns over overcapacity in the sector.
- The government aims to curb excessive investment and promote sustainable development.
China's National Development and Reform Commission has suspended approvals for new energy-storage battery manufacturing facilities, according to a notice issued on Tuesday. This decision reflects growing concerns about overcapacity within the rapidly expanding sector. The government aims to curb excessive investment and encourage more rational development, potentially impacting future production and market dynamics for energy storage solutions.