China switches from state subsidies to market based system, in domestic renewable energy

According to Reuters: 'The NDRC said China's clean energy capacity of all kinds had reached more than 40% of the economy's total energy generation capacity, in part because of the support of a system that guaranteed prices for renewable energy sold to the grid.
"The cost of new energy development has dropped significantly compared to earlier stages," the NDRC said in a statement.
The agency said any new projects completed after June this year would face payments for electricity based on "market-based bidding".'

China is switching in renewable energy from state subsidies to a market system. It has about six times the capacity for solar energy than the US. China must be confident that renewable energy costs have come down, and no longer requires state support. US with the new administration is headed in the opposite direction, of encouraging fossil fuels. So China, both domestically and internationally, is a leader in clean energy.

Reference: https://www.reuters.com/business/energy/china-roll-back-clean-power-subsidies-after-boom-2025-02-09/