China’s National Energy Administration (NEA) has reaffirmed its commitment to phasing out fossil fuels and reforming its electricity system. During a recent press conference, NEA head Zhang Jianhua highlighted the country’s achievements in energy transition but provided limited details on future plans.
China invested approximately $676 billion in its energy transition last year, accounting for 38% of global investment in this area, according to BloombergNEF. The country has emerged as a leader in renewable energy, although its power system still heavily relies on coal.
While Zhang reiterated that China would continue to reform its electricity system, expand the spot market, and promote green electricity trading, he emphasized that the dual carbon targets set for 2030 remain unchanged. The country had aimed to install 1,200 gigawatts of wind and solar power by 2030, a target it reached six years ahead of schedule.
When asked about the possibility of setting more ambitious renewable goals, new-energy department director Li Changjun stated that new targets would be formulated based on national conditions. Analysts have noted that China is behind on certain objectives, including reducing carbon intensity by 18% by 2030, which would require significant annual cuts in absolute emissions.
The NEA’s white paper also covered previously announced initiatives, such as advancing energy storage technologies and promoting energy conservation. Additionally, it highlighted China’s efforts to foster global green energy cooperation through the Belt and Road Initiative, citing projects like the Karot hydropower station in Pakistan.