Energy Use Declines in China During 2014
December 29, 2014Energy use per unit of GDP is expected to decline by up to 4.7% in China in 2014, according to a senior official at the country's top economic planner, who was quoted in an article from China Daily. The drop signals changes in the structure of the world's second-largest economy and the impact of slower economic growth.
The forecast is higher than the 3.9% target set at the beginning of 2014, and just higher than the 4.6% percent fall recorded for the first three quarters of 2014.
Xie Zhenhua, vice-chairman of the National Development and Reform Commission, says China's economic transformation requires specific energy structure adjustments to be made.
China expects to increase the share of non-fossil fuels in its overall energy mix to 11.4% by 2015, says Xie, and aims to raise the share of non-fossil fuels to 20% by 2030.
He says the country will also step up efforts to shut down outdated production capacity and more strictly control newly added capacity in energy-intensive industries such as steel, nonferrous metals, building materials, petrochemicals and chemicals by implementing environmental assessment procedures.