The Impact of Carbon-neutral Planning on China's Economy

Abstract

After China put forward the development goal of carbon neutralization and peak carbon, new energy power such as wind power, hydroelectric power, and solar power are undergoing booming development. The plan of carbon neutrality not only has environmental values but also has great economic values for Chinas economy. This paper will study the topic from the following aspects: Literature review, carbon neutrality development in China, potential impacts of carbon neutrality on the Chinese economy, and the economic impact outlook. The transition to carbon neutrality brings great benefits for China despite its challenges. This study focuses especially on new energy resources by analyzing the real changes that took place in China in recent years on the way to achieve carbon neutrality. Given the fact that China is still in a critical stage of development, energy storage is of great importance to China. It is no doubt that Chinas transition to new energy resources is a huge driver for its economic growth and economic boom.