
Energy industry to witness boom times
China DailyWorkers install wind turbines at a wind farm project construction site in Ruichang, Jiangxi province, on Dec 19. WEI DONGSHENG/FOR CHINA DAILY China's energy sector is poised for further growth this year, fueled by favorable policies that will expedite the country's shift toward renewable energy sources, even as it navigates challenges like demand-supply imbalances and trade barriers, said experts. "Since the latter part of the year, China has been actively driving the development and reform of the new energy sector, including supply-side reforms in solar power and demand-side reforms in wind power. By 2025, we anticipate the introduction of more new energy reforms with a growth-oriented approach," said Ken Liu, head of mainland and Hong Kong utilities and renewables research at financial services provider UBS. Electricity is poised to become the dominant end-use energy source, with hydrogen energy showing promising innovative development potential and anticipated increased role in end-use energy consumption transformation," Wang said.
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