Core Points - The UK government has launched a ten-year development plan called the "UK Modern Industrial Strategy" aimed at overcoming growth barriers and making the UK a preferred destination for global investment and development [1] - The "Clean Energy Industry Plan" focuses on ambitious clean energy initiatives, world-class innovation capabilities, and a stable regulatory environment, with a legal commitment to achieve net-zero emissions by 2050 [1] Investment Plans - The UK plans to attract £2.3 billion in clean technology venture capital in 2024, with an increase in clean energy industry investment to over £30 billion annually by 2035 [14] - The government will provide catalytic public investment, including £1 billion through the Great British Energy Company supply chain fund and at least £5.8 billion from the National Wealth Fund for CCUS, low-carbon hydrogen, super factories, ports, and green steel [15] Skills Development - An investment of £100 million will be made over three years to support engineering skills in England, with a new clean energy workforce strategy to be released by 2025 [16] International Cooperation - The UK aims to lead the global clean power alliance to promote the global transition to clean energy [17] Sector-Specific Initiatives - Offshore Wind: A joint investment of £1 billion will be made in the offshore wind supply chain, with reforms to provide market certainty [18] - Nuclear Fission: The government has committed £14.2 billion for the construction of the Sizewell C nuclear power station, aiming for 70% of contract value to be allocated to UK suppliers [19] - Fusion Energy: An investment of £2.5 billion will support fusion energy research, with a goal to build a prototype fusion power plant by 2040 [20] - Hydrogen: Plans to launch hydrogen allocation rounds and simplify processes for investment in hydrogen transport and storage [21] - Carbon Capture, Utilization, and Storage (CCUS): The UK has the geological capacity to safely store up to 78 billion tons of CO2, with £9.4 billion in capital support for the CCUS industry [22] - Heat Pumps: £13.2 billion has been allocated for the "Warm Homes Plan," including new heat pump investment accelerators [23] Opportunities for Chinese Enterprises - The UK Modern Industrial Strategy presents attractive opportunities for Chinese enterprises in clean energy transition, emphasizing innovation, sustainable development, and global collaboration [26] - Specific sectors such as offshore wind, energy storage, hydrogen, and CCUS align well with Chinese companies' capabilities and strategic interests [27][30][31]