The Soochow Research Reports indicate that the approval process for domestic offshore wind power is accelerating, and the growth rate of future installation capacity is expected to increase: Domestic wind power fell into a low point after the rush for installations in 2021, with widespread delays in offshore wind power projects, and a clear disconnect between the bidding volume and installation capacity. However, since the beginning of 2024, the approval for offshore wind power projects has clearly accelerated. We expect the growth rate of new offshore wind installations to exceed that of onshore wind. According to statistics from the Global Wind Energy Council, the newly connected offshore wind power capacity globally in 2023 was 10.8 GW, representing a year-on-year growth of 24% compared to 2022. The main contributions to the global offshore wind installations came from China and Europe, with China achieving new installations of 6.3 GW, accounting for 58%, while Europe added 3.76 GW, accounting for 35%. Benefiting from rich offshore wind resources and rapid technological advancements that continuously enhance economic viability, global offshore wind growth is expected to accelerate further. GWEC expects that new offshore wind installations in 2024 will reach 18 GW, an 80% year-on-year increase, with a CAGR of 27.9% over the next five years, significantly higher than the global wind power's future new installation rate of 9.4%, and the share of offshore wind is expected to continue to rise.