Industry Dynamics

The International Energy Agency (IEA) released a report on January 1, saying that thanks to the rapid advancement of clean energy transitions such as solar, wind, and nuclear energy, and technologies such as electric vehicles, the increase in global energy-related carbon dioxide emissions in 2023 will be lower than in 2022.

The Second Session of the Fourteenth National People's Congress (NPC) held its opening meeting in the Great Hall of the People. On behalf of the State Council, Premier Li Qiang made a report on the work of the Government to the Second Session of the Fourteenth National People's Congress.

On March 1, the National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) issued the "Guiding Opinions on the High-Quality Development of Distribution Grids in the New Situation," stating that

Xi Jinping, General Secretary of the Central Committee of the Communist Party of China (CPC), emphasized during the study session that energy security has a bearing on the overall situation of economic and social development. The active development of clean energy and the promotion of a green and low-carbon economic and social transformation have become a general consensus of the international community to address global climate change.

On February 27, the National Development and Reform Commission and the National Energy Board jointly issued the "Guidance on Strengthening the Capacity Building of Grid Peaking, Energy Storage and Intelligent Dispatch", which for the first time juxtaposes energy storage with grid peaking and intelligent dispatching as a key support for promoting the development of new energy in large-scale and high proportion, and as an important element in building a new type of power system.

By the end of 2023, the country's full-caliber installed power generation capacity was 2.92 billion kilowatts (kW), an increase of 13.91 TP3 T. Per capita installed power generation capacity exceeded 2 kW per person in 2023 for the first time since surpassing 1 kW per person at the end of 2014.

At the beginning of 2023, the development of renewable energies was gradually recognized by European countries as part of their regional security strategies, most notably photovoltaics.

The Implementation Plan for Promoting Low-Carbon Development in the Railway Industry was issued to promote the construction of green railroads.

On December 14, the U.S. Department of the Treasury and the Internal Revenue Service issued proposed regulations providing guidance on the advanced manufacturing capacity tax credit under the Inflation Reduction Act (IRA).

Minister of Industry and Information Technology Jin Zhuanglong met with Saudi Investment Minister Khalid Al-Falih in Beijing. The two sides exchanged views on strengthening cooperation between China and Saudi Arabia in the fields of industry and informationization.