Chinese next-five year plan, expected to be endorsed in March, could prove ambitious objectives in terms of energy efficiency and renewable energy. The plan is likely to include a 64% increase in installed renewable energy capacity to 427 GW by 2015, which is 33% higher than the EU goal (322 MW). Investments in smart grids are likely to reach €460bn by 2020, compared with €23-28bn in the EU. The five-year plan could also introduce a mandatory energy intensity target of 16% compared with 2005 levels.
Sectoral targets will be introduced, such as an energy standard for the cement industry and a 10% energy intensity reduction between 2010 and 2015 for the oil and chemical industries. China is also likely to introduce a 30% reduction target for both the fuel consumption and carbon emissions of new vehicles and low carbon zones in eight cities and five provinces; these zones will be specifically identified for lower emissions in all sectors.
Other likely measures include launch pilots in emissions trading and a tax on resource use.
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