China to Ease Energy Consumption Restrictions to Revive Economic Growth
- December 15, 2021
- Posted by: Quatro Strategies
- Category: Legislation
China decided to ease restrictions on energy consumption to make sure its environmental targets do not hinder future economic growth. The decision came after China’s annual Central Economic Work Conference.
The statement issued after the conference said China will move towards capping CO2 emissions from overall energy to reach its climate goals rather than setting energy consumption targets.
China, the world’s biggest coal consumer and greenhouse gas emitter, has previously set ambitious targets for energy consumption and energy intensity, the amount of energy consumed per economic growth. However, after last year’s restrictions some energy intense provinces struggled to meet their targets, causing widespread power outages and supply problems for industry and households.
The conference statement said China’s main economic task in 2022 is prioritizing stability in macroeconomy with cooperation from all regions and departments.
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