Peak Oil is You

Donate Bitcoins ;-) or Paypal :-)

Page added on June 30, 2006

Bookmark and Share

China struggling to reduce energy consumption

While China’s GDP growth continues at around 10 percent this year, the country is striving to reduce its energy consumption.

However, considering the current economic situation, the goal of reducing energy consumption by four percent this year does not look like being reached easily unless China makes great changes in its macro-economic policy,” said Zhou Dadi, Director General of the Energy Research Institute of the National Development and Reform Commission.
Heavy industrial sectors such as metallurgy, chemicals and building materials continue to grow rapidly. Investment is still hot and economic growth is still the index local governments place the most importance on, he said.

On the other hand, the goal of reducing energy consumption requires fundamental changes in China’s energy consumption methods, he said.

China’s energy problems cannot be solved independently and it is a matter of the macro economy of the country, said Tao Dong, economist with Credit Suisse in Hong Kong.

It depends on changes in China’s economic growth mode, said Zhou.

Five industrial sectors – iron and steel, chemicals, building materials, oil and coke refining and electricity and heat generation – use over half of the country’s total energy consumption.

People’s Daily

Leave a Reply

Your email address will not be published. Required fields are marked *