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 China’s Energy Development in 2024

 

In 2024, amid global economic recovery and energy transition, China's energy sector underwent profound transformation. Total energy consumption exhibited steady growth, with the energy structure progressively shifting towards low-carbon and clean energy. The share of coal decreased gradually, while renewable sources like wind, solar, hydro, biomass, and hydrogen expanded rapidly, markedly advancing energy system transformation and the realization of carbon reduction objectives. However, China's energy development encounters notable challenges, including substantial coal consumption, a persistently high dependence on oil and gas imports, and escalating energy security concerns. Furthermore, the energy transition exerts uneven effects on regional economic development and employment markets, necessitating more nuanced and targeted policy measures.

 

At the same time, heightened geopolitical tensions have exacerbated uncertainties in global energy supply chains. To address these challenges, China has continued to enhance domestic energy resource development, pursue diversification of energy imports, and actively expand international energy cooperation—particularly with Europe, and especially Hungary—in sectors like nuclear power, battery production, and electric vehicles, aiming to reduce external vulnerabilities. In the future, China’s energy sector should further accelerate its shift toward clean, digital, and intelligent development; intensify research and development of key technologies; improve energy infrastructure; and prudently promote clean coal utilization and phase-out strategies, thereby comprehensively strengthening its energy security framework.

 

This study conducts an integrated analysis of energy structure, economic and environmental effects, energy security, and international collaboration, and identifies critical areas and strategic recommendations to advance China's future energy transition.

 

Jiandong Shi

Researcher, MCC Center for International Economy