Title: An analysis of the impacts of the COVID-19 on China's energy transition into a green economy: challenges and outlooks
Authors: Zhen Wang; Cen Zhang; Chen Chen
Addresses: School of Economics and Management, China University of Petroleum in Beijing, 18, Fuxue Road, Changping District, Beijing 102249, China ' CNOOC Energy Economics Institute, Dongcheng District, Beijing 100013, China ' CNOOC Energy Economics Institute, Dongcheng District, Beijing 100013, China
Abstract: Owing to the economic reform and opening-up policy, China has seen a continued economic boom since late 1970s. It has now become the world's largest energy producer and consumer. In addition, China is also a frontrunner in energy transition investments over the last decade with a total investment of over $1.2 trillion equal to that of USA, Germany and Japan combined. Despite the outbreak of the COVID-19 pandemic and the subsequent unprecedented turbulence on the global energy market, the trajectory of China's energy transition is not diverted but rather accelerated into a green economy according to our research. The paper reviews China's energy development and illustrates the influences of the pandemic on its energy transition. To reach carbon neutrality by 2060, four paths are proposed which include utilising fossil energy in a cleaner way, deploying renewables in large scale, diversifying the energy mix, and pushing forward end-use electrification.
Keywords: China; carbon neutrality; energy transition; emissions; energy mix; development.
International Journal of Chinese Culture and Management, 2022 Vol.5 No.3, pp.224 - 235
Received: 27 Apr 2021
Accepted: 23 May 2021
Published online: 30 Jun 2022 *