The Chinese State Council Information Office has released a white paper on the country’s energy development and major policies and measures for energy reform, which plans to lift foreign investment restriction on coal, oil, gas, power generation, and new energy businesses during the 14th five-year plan period between 2021-2025. Investment restrictions on nuclear will remain in place. The policy document prioritises the development of solar energy, wind power, hydropower, and nuclear power, as well as biomass, geothermal, and ocean energy. However, the country will continue to phase out subsidies for solar and wind - due to their falling costs - and will continue to support coal mining and expand domestic exploration for oil and gas.
China plans to scale up its updated Nationally Determined Contribution (NDC) to the Paris Agreement, targeting a peak in CO2 emissions before 2030 and carbon neutrality before 2060. The country is currently working on a new five-year plan that will determine its near-term decarbonisation plans. The country’s CO2 emissions from energy combustion have almost quadrupled since 1990, reaching 9.7 GtCO2 in 2019.
Interested in Global Energy Research?
Enerdata's premium online information service provides up-to-date market reports on 110+ countries. The reports include valuable market data and analysis as well as a daily newsfeed, curated by our energy analysts, on the oil, gas, coal and power markets.
This user-friendly tool gives you the essentials about the domestic markets of your concern, including market structure, organisation, actors, projects and business perspectives.