Zeng Yuqun, a member of the National Committee of the CPPCC, founder of Contemporary Amperex Technology Co Ltd

According to Zeng, new-type energy storage is the key technology and fundamental equipment that supports China's new power system, and it is also a new strategic area in international energy competition.

Although new-type energy storage in China has achieved scaled development, the market mechanism for energy storage has not yet been established. Domestic new-type energy storage faces issues such as low frequency of dispatch and low utilization rates.

Zeng added that it is urgent for the country to further improve the market participation and guarantee mechanisms for energy storage in order to enhance the market application level of new-type energy storage.