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Smart energy sector to become important economic growth point for China in 14th Five-Year Plan period, report

January 11, 2021


Abstract : China's energy industry will usher in a new stage during the 14th Five-Year Plan period (2021-2025). Smart energy sector will become an important economic growth point for the country and support the clean, efficient and low-carbon transition of the energy system, according to a report released in a forum held on Sunday.

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BEIJING, Jan. 11 (Xinhua) -- China's energy industry will usher in a new stage during the 14th Five-Year Plan period (2021-2025). Smart energy sector will become an important economic growth point for the country and support the clean, efficient and low-carbon transition of the energy system, according to a report released in a forum held on Sunday. 

Based on the report, governments and departments at all levels will lay more emphasis on the clean, safe, low-carbon and efficient transition of the energy system, with more state-owned and social capital flowing into related fields. Meanwhile, the scale and proportion of non-fossil energy will increase significantly during the period. 

The report predicted that during the 14th Five-Year Plan period, China's energy elasticity coefficient will drop to approximately 0.35. The energy consumption is expected to gain 1 percent annually on average. The total energy consumption will be controlled within 5.5 billion tonnes of standard coal, with energy consumption per unit of GDP estimated to decline 16 percent. Meanwhile, the proportion of non-fossil energy in the total energy consumption is likely to exceed 20 percent in 2025, while that of fossil energy is expected to approach its peak.

The report suggested that efforts should be made to further improve the business environment and market competition environment, rely on competition to promote the development of renewable energy, and speed up the establishment and improvement of electricity spot market and future market. (Edited by Zhang Yuan with Xinhua Silk Road, zhangyuan11@xinhua.org)

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Keyword: smart energy

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