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Report: China's clean energy industries could double in value by 2035

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Integrated clean energy project in Hami, Xinjiang. /CFP
Integrated clean energy project in Hami, Xinjiang. /CFP

Integrated clean energy project in Hami, Xinjiang. /CFP

China's clean energy industries could double in value over the next decade, according to a new report released Thursday, June 19.

The report, from the independent Centre for Research on Energy and Clean Air (CREA), says that growth could add $2.1 trillion to the economy – if China sets bold domestic targets, amid the continuing acceleration of the global energy transition.

Indeed, that expansion could deliver a fifth of China's targeted GDP growth over the next decade, the study finds, with a total contribution comparable to the current total GDP of Germany or Japan. 

The report commends China's commitment to high-quality, innovation-led development, noting that the clean energy sector's growth would be driven by domestic demand and global market growth. 

That commitment could well be underlined or even strengthened by China's 15th five-year plan, from 2026 to 2030, and CREA experts say setting ambitious targets – domestically and globally, via national contributions to the United Nations Framework Convention on Climate Change (UNFCCC) – can help to supercharge China's economy via the green transition. 

'The next decade will be critical in deciding whether China can seize the economic and strategic advantages of clean energy sectors and lead the world into a new phase of high-quality, innovation-led development," says Belinda Schaepe, CREA's China Policy Analyst and co-author of the report.

"Clear, ambitious policy targets in the 15th Five-Year Plan and China's nationally determined contribution to the UNFCCC are essential to unlock the full potential of these industries," she continued.

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