China’s energy landscape is undergoing a significant transformation, marked by a steady reduction in coal consumption and a growing embrace of cleaner energy sources. According to data released at the 2024 China Mining Conference and Exhibition in Tianjin Municipality, coal consumption accounted for 55.3% of China’s total primary energy consumption in 2023. This represents a notable decrease of 12.1 percentage points compared to a decade ago.
The Ministry of Natural Resources, in its annual report on China’s mineral resources released on October 15, highlighted a 7.7 percentage point increase in the proportion of non-fossil energy sources—hydropower, nuclear power, wind power, and solar power—over the past ten years. This shift signifies China’s commitment to diversifying its energy mix and reducing its reliance on coal.
Since 2012, the driving force behind China’s energy production has been shifting from traditional power sources to new energy. The nation’s energy structure is transitioning towards more diversified and cleaner sources, aligning with global efforts to combat climate change.
China has set ambitious goals to address environmental concerns, pledging to peak carbon emissions by 2030 and achieve carbon neutrality by 2060. The steady decline in coal usage is a critical step toward these “dual carbon” objectives, reflecting the country’s dedication to sustainable development.
This evolution in energy consumption not only contributes to global environmental efforts but also opens avenues for investors, businesses, and researchers. The renewable energy sector’s growth presents significant opportunities for entrepreneurs and market analysts interested in Asian markets and economic trends.
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China's energy consumption structure improves with drop in coal use
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