Page 194 - 2018 White Paper on the Business Environment in China
P. 194
8 White Paper on the Business Environment in China
producer of solar power in the world (Simon-Lewis). A reflects structural factors that are likely to persist,” Dale
World Bank report released in June 2017 claimed China said (Xinhua, China Tops).
ranked 21st in sustainable energy regulation, with its
renewable energy score well above the global average, China became the world’s largest renewable energy
and close to Organization for Economic Co-operation producer in 2016 following its efforts to reduce carbon
and Development (OECD) countries in many ways. China emissions. Although renewables only accounts for 3.2
scored 81 in the first Regulatory Indicators for Sustainable percent of the world’s primary energy generation, it
Energy, a policy scorecard covering energy access, has become the fastest growing energy source last year
energy efficiency and renewable energy in 111 countries. with it rising 12 percent over the year, The National
Over the past few years, China saw more investment and Bureau of Statistics said. China boosted such progress,
installation in renewable energy than any other country, with the nation having plugged 14.9 gigawatts of
the report said, which made China the highest ranking wind power into the state’s grid last year, 142 percent
country in East Asia and second highest among all higher from 2012, while solar energy capacity totaled
middle-income countries (Yu). 77.4 gigawatts, 21.7 times higher from five years ago.
Alongside wind and solar power, China was also the
Coal still makes up the largest part of China’s energy largest source of the world’s hydropower and nuclear
consumption, but Beijing has been shutting coalmines energy growth. By contrast, coal, the main energy source
and setting out plans in 2016 to slash more than 1.3 of China, has dropped to 69.6 percent of the nation’s
million coal-related jobs. The Chinese government has energy production in 2016, 6.6 percentage points lower
also moved to restrict the construction of new coal power from five years ago, the bureau said (Xinhua, China
plants. For the first time ever, China’s National Energy Tops). The amount of electricity generated from clean
Administration in January 2017 established a mandatory energy sources increased by 5.15 percent year-on-year,
target to reduce coal energy consumption. It also set equivalent to a 22 million metric ton reduction in thermal
a goal for clean energy to meet 20 percent of China’s coal consumption, said Yan Pengcheng, spokesperson
energy needs by 2030. The country pledged in 2017 to with the National Development and Reform Commission.
invest 2.5 trillion yuan in renewable power generation by Clean energy accounted for 27.2 percent of the country’s
2020. The investment will create about 10 million jobs in total power output in the first six months in 2017, up 1.8
the sector, the National Energy Administration projects. percentage points from the same period last year. Wind
China currently boasts 3.5 million jobs in clean energy, by power generated in the January-June period grew 25.7
far the most in the world, according to the International percent YoY, while solar power jumped 80.3 percent and
Renewable Energy Agency (Pham and Rivers). nuclear power was up 20.8 percent. China’s power output
increased 6.3 percent YoY to 2.96 trillion kilowatt-hours
China continued to dominate renewables growth, in the first half of 2017. The country has pledged to cut
contributing about 40 percent of global growth — more carbon emissions per unit of GDP by 60-65 percent from
than the entire OECD — and surpassed the United States 2005 levels by 2030 and raise the share of non-fossil
as the largest producer of renewable power in 2016, said energy use in total consumption to about 20 percent
Spencer Dale, British Petroleum (BP)’s Chief Economist. (Song, China’s clean energy).
China also provided the main source of world growth for
both hydro and nuclear power. Global hydropower rose China’s top economic planner had unveiled at the
2.8 percent in 2016 from a year ago, with more than 40 beginning of 2017 new measures to regulate electricity
percent of growth from China. In the meantime, global pricing at provincial power grids. The measures clarified
nuclear power went up by 1.3 percent, or 9.3 million tons pricing, incentives and restraints for power grids. The new
of oil equivalent, with China contributing almost all the measures came after a previous move by the commission
growth. Carbon emissions were essentially flat over the to supervise energy prices in terms of power grid costs.
past three years, Dale said, with China again as the key Due to energy price decreases brought by the measures,
player. The BP data showed carbon emissions in the world enterprises nationwide have saved more than 180 billion
raised slightly by 0.1 percent in 2016, while in China, the yuan in energy costs since 2015. Lowering corporate costs
emissions fell 0.7 percent from a year ago. “China’s carbon is one of the five main tasks of China’s ongoing supply-side
emissions are estimated to have actually fallen over the structural reform, along with cutting industrial capacity,
past two years, after growing by more than 75 percent reducing the housing inventory, cutting leverage and
in the previous 10 years, and some of the improvements improving weak economic links (Song, China Makes).
194
producer of solar power in the world (Simon-Lewis). A reflects structural factors that are likely to persist,” Dale
World Bank report released in June 2017 claimed China said (Xinhua, China Tops).
ranked 21st in sustainable energy regulation, with its
renewable energy score well above the global average, China became the world’s largest renewable energy
and close to Organization for Economic Co-operation producer in 2016 following its efforts to reduce carbon
and Development (OECD) countries in many ways. China emissions. Although renewables only accounts for 3.2
scored 81 in the first Regulatory Indicators for Sustainable percent of the world’s primary energy generation, it
Energy, a policy scorecard covering energy access, has become the fastest growing energy source last year
energy efficiency and renewable energy in 111 countries. with it rising 12 percent over the year, The National
Over the past few years, China saw more investment and Bureau of Statistics said. China boosted such progress,
installation in renewable energy than any other country, with the nation having plugged 14.9 gigawatts of
the report said, which made China the highest ranking wind power into the state’s grid last year, 142 percent
country in East Asia and second highest among all higher from 2012, while solar energy capacity totaled
middle-income countries (Yu). 77.4 gigawatts, 21.7 times higher from five years ago.
Alongside wind and solar power, China was also the
Coal still makes up the largest part of China’s energy largest source of the world’s hydropower and nuclear
consumption, but Beijing has been shutting coalmines energy growth. By contrast, coal, the main energy source
and setting out plans in 2016 to slash more than 1.3 of China, has dropped to 69.6 percent of the nation’s
million coal-related jobs. The Chinese government has energy production in 2016, 6.6 percentage points lower
also moved to restrict the construction of new coal power from five years ago, the bureau said (Xinhua, China
plants. For the first time ever, China’s National Energy Tops). The amount of electricity generated from clean
Administration in January 2017 established a mandatory energy sources increased by 5.15 percent year-on-year,
target to reduce coal energy consumption. It also set equivalent to a 22 million metric ton reduction in thermal
a goal for clean energy to meet 20 percent of China’s coal consumption, said Yan Pengcheng, spokesperson
energy needs by 2030. The country pledged in 2017 to with the National Development and Reform Commission.
invest 2.5 trillion yuan in renewable power generation by Clean energy accounted for 27.2 percent of the country’s
2020. The investment will create about 10 million jobs in total power output in the first six months in 2017, up 1.8
the sector, the National Energy Administration projects. percentage points from the same period last year. Wind
China currently boasts 3.5 million jobs in clean energy, by power generated in the January-June period grew 25.7
far the most in the world, according to the International percent YoY, while solar power jumped 80.3 percent and
Renewable Energy Agency (Pham and Rivers). nuclear power was up 20.8 percent. China’s power output
increased 6.3 percent YoY to 2.96 trillion kilowatt-hours
China continued to dominate renewables growth, in the first half of 2017. The country has pledged to cut
contributing about 40 percent of global growth — more carbon emissions per unit of GDP by 60-65 percent from
than the entire OECD — and surpassed the United States 2005 levels by 2030 and raise the share of non-fossil
as the largest producer of renewable power in 2016, said energy use in total consumption to about 20 percent
Spencer Dale, British Petroleum (BP)’s Chief Economist. (Song, China’s clean energy).
China also provided the main source of world growth for
both hydro and nuclear power. Global hydropower rose China’s top economic planner had unveiled at the
2.8 percent in 2016 from a year ago, with more than 40 beginning of 2017 new measures to regulate electricity
percent of growth from China. In the meantime, global pricing at provincial power grids. The measures clarified
nuclear power went up by 1.3 percent, or 9.3 million tons pricing, incentives and restraints for power grids. The new
of oil equivalent, with China contributing almost all the measures came after a previous move by the commission
growth. Carbon emissions were essentially flat over the to supervise energy prices in terms of power grid costs.
past three years, Dale said, with China again as the key Due to energy price decreases brought by the measures,
player. The BP data showed carbon emissions in the world enterprises nationwide have saved more than 180 billion
raised slightly by 0.1 percent in 2016, while in China, the yuan in energy costs since 2015. Lowering corporate costs
emissions fell 0.7 percent from a year ago. “China’s carbon is one of the five main tasks of China’s ongoing supply-side
emissions are estimated to have actually fallen over the structural reform, along with cutting industrial capacity,
past two years, after growing by more than 75 percent reducing the housing inventory, cutting leverage and
in the previous 10 years, and some of the improvements improving weak economic links (Song, China Makes).
194
