The 2018 Chinese Renewable Energy Conference and Exhibition (CREC 2018) takes place in Wuxi, Jiangsu province, on Nov 1. [Photo provided to chinadaily.com.cn]

The 2018 Chinese Renewable Energy Conference and Exhibition (CREC 2018) opened in Wuxi, Jiangsu province, on Nov 1.

The conference, which is themed "focusing on renewable energy, aimed at grid parity", is being hosted by Wuxi government with the support of China Council for the Promotion of International Trade, Jiangsu Provincial Government, the National Energy Administration and China Energy Research Society.

This year's renewable energy conference included an exhibition, 13 forums, a news conference, a ceremony to launch a new book, over 30 artistic performances, as well as a host of investment promotion conferences.

Around 500 foreign and domestic companies are attending the exhibition, which will last until Nov 3. The exhibition area has been increased to 20,000 square meters this year to mark the 10th anniversary of the conference.

Liang Zhipeng, deputy director of the new energy and renewable energy department at the National Energy Administration, delivered a speech in which he highlighted the achievements made by China in promoting the exploration of renewable energy resources and the progress the country has made on developing related technologies.

He said that China would work to launch a renewable energy portfolio standard as soon as possible to promote the building of a grid parity program.

Huang Qin, acting mayor of Wuxi, delivers a speech at the opening ceremony of the 2018 Chinese Renewable Energy Conference and Exhibition. [Photo provided to chinadaily.com.cn]

Huang Qin, acting mayor of Wuxi, also delivered a speech. He argued that the renewable energy industry had become a driver of economic growth for the city's economy, citing that the output value of the renewables industry in Wuxi hit 78 billion yuan ($11.27 billion) last year.

"In 2017, the network capacity for photovoltaic power generation surpassed 600 megawatts, and the number of renewable energy companies with their respective annual output reaching 100 million yuan was 46," Huang said.

Zhu Gongshan, president of the Global Solar Council (GSC) and chairman of the board of GCL Holdings Limited, said that confidence is more valuable than gold when faced with the uncertainties caused by the fluctuating macro economy, changes in industrial policy and market instability.