China’s new energy strategy aims to shield economy from shocks – and meet climate targets
China is refining its energy strategy to enhance energy security and address climate goals amidst complex internal and external challenges.
China is set to refine its energy strategy, emphasizing energy security and infrastructure upgrades as essential components of its new development plan over the next five years. As the environment for constructing a new energy system becomes increasingly complicated, officials recognize the need to bolster resilience against both domestic and international economic shocks.
In particular, the Chinese administration is focusing on local energy supply by targeting a goal where more than 70% of the projected increase in energy demand in eastern regions comes from local sources. This approach aims to stimulate regional self-reliance and mitigate reliance on external energy supplies, reflecting a significant pivot in energy strategy that simultaneously addresses economic stability and climate targets.
Officials, including Ren Yuzhi, highlighted that the broad shift was necessary in light of evolving conditions, which include a range of geopolitical and economic challenges. By implementing large-scale projects and enhancing energy flows, the strategy aims to create a more robust national energy framework while contributing to China’s ambitions to meet climate commitments, thus suggesting an integrated approach to dealing with both energy security and environmental sustainability.