In January, lithium carbonate futures in China surpassed CNY 138,000 per tonne, reaching their highest level in over two years due to strong demand and concerns about limited supply. The Chinese government's ambitious investments in power and data center infrastructure, along with increased spending on energy storage, have bolstered the demand for lithium and other battery materials. Furthermore, Beijing has announced plans to double its electric vehicle charging capacity to 180 gigawatts by 2027, which further supports demand for lithium-based energy storage systems. In addition to domestic investments, Chinese companies have seen their foreign sales of storage systems rise to $66 billion in the first ten months of the year, exceeding the $54 billion generated from electric vehicle exports. On the regulatory front, authorities have revoked 27 mining permits in Jiangxi, a key lithium-producing region, in line with the earlier cessation of operations at CATL's Jianxiawo lithium mine as part of Beijing's campaign against excessive mining practices.