PREREQUISITES AND KEY MEASURES FOR THE IMPLEMENTATION OF SUSTAINABLE ENERGY INNOVATIONS IN CHINA

Abstract

The article is devoted to the study of prerequisites, directions and measures to ensure China's energy transition. The purpose of the article is to study China's experience in ensuring the energy transition and identify key directions and policy initiatives for the implementation and development of sustainable energy innovations. It has been established that China is the world's largest energy consumer and in recent years has been characterized by continuous economic growth and acceleration of industrialization, development of the energy industry. The energy structure was analyzed and the dominance of coal production and consumption was determined – the first place in the world. The activity of green energy development has been revealed, but the share of clean energy sources in total energy consumption is still low. It was determined that the implementation of the principle of sustainable development and energy innovation is a priority for the further development of the Chinese economy. The key directions for ensuring the energy transition have been identified: diversified energy supply; green and low-carbon development; technological transformation and development. The dynamics of China's energy imports from 2013 to 2022 are analyzed. It was established that China ranked 17th in the Energy Transition Index in 2023, and for the first time entered the TOP-20 countries according to this ranking, which indicates the growing potential of China's energy transition. It analyzed the reasons for reducing energy consumption by 10,000 yuan of GDP from 2013 to 2022. In particular, it is notable that individual companies have reduced energy consumption and environmental pollution, promoting energy conservation, emission reduction and circular economy. It found that, along with the problem of high industrial emissions, China has become a leader in the adoption of clean energy technologies with investments in clean energy technologies exceeding US$650 billion per year. Key political initiatives contributing to the reduction of carbon dioxide emissions and the introduction of energy innovations are analyzed.