søndag 21. mars 2021

Key issues for China’s 14th Five Year Plan

One of the key challenges for China’s leadership remains to keep economic growth high enough to maintain employment and social stability, but at the same time move from high-speed growth to highquality growth by raising domestic consumption and reining in energy-intensive industries. 

However, the pace and energy-intensive nature of the economic recovery from COVID-1912 combined with Xi's proposal that GDP should double by 203513 will make it difficult for the planners to reconcile these trends with the low-carbon pledges. The fastest way to boost energy supply in the short term is with fossil fuels. Beyond that, massive expenditure will be needed in support of innovation and the deployment of renewable energy, energy storage and carbon capture.