China is leading the global energy transition, aiming to source half of its power from low-carbon sources by 2028, including solar, wind, nuclear, and energy storage, according to Wood Mackenzie.
The country is also outpacing global competition in the electric vehicle (EV) sector, with BEVs projected to account for two-thirds of China’s car sales by 2034. This shift is transforming both the domestic and global markets, with Chinese EV brands like BYD gaining significant ground.
China’s dominance extends to its clean energy sector, where low-carbon sources will provide half of the country’s electricity by 2029, and solar and wind power will surpass coal by 2037. These rapid changes are driven by energy security, decarbonization, and government policies that support high-tech industries, including data centers and cleantech.
However, China’s growing influence poses a challenge to Western rivals, particularly in the EV and digital technology sectors.
Source: norvanreports