Development and Prospects of China's Renewable Energy Export Trade under the Belt and Road Policy

Abstract

Under the trend of economic globalization, the cost of renewable energy development has been decreasing globally, and renewable energy development has become the focus. But since 2018 the trade war between China and the United States has been escalating, and China's renewable energy development has been hindered by the United States because China's core technology is still not fully mastered. How to deal with related issues is crucial for China's development. The article uses literature analysis to analyze the impact of the US-China trade war and China's own overcapacity problem on China's renewable energy development, and to provide countermeasures to address the corresponding problems. This paper argues that the sustainable development of China's renewable energy industry faces three basic problems, which are restricted by the trade barriers of the US-China trade war, the lack of some core technologies, and the potential overcapacity problem in the future. In order to achieve sustainable development of renewable energy in China, it is suggested seizing the opportunity of the Belt and Road policy development with energy cooperation as the key area of development. By analyzing the various factors affecting the development of China's renewable energy industry, and by giving suggestions and countermeasures, this paper hopes to give a comprehensive understanding of the development history and prospects of the renewable energy industry in China and provide reliable suggestions for the development of related industries in China.