China can halt importing oil in 20 years

Over the next 20 years, China can importantly reduce or even quit oil imports, says Liu Hanyuan, a associate of the National Assembly of People's Representatives (NPC). His words point to the long-term strategy of the mediate State, which is based on the accelerated electrification of transport and the dynamic improvement of renewable energy sources (RES).

Electrical engineering key to energy independence

China is already the world's largest electrical car (EV) market. In 2022 sales of electrical and hybrid vehicles in China exceeded 6 million units, which accounted for more than half of global sales. The Chinese Government has for years been supporting the improvement of this sector through subsidies, taxation incentives and investments in charging infrastructure.

According to Liu Hanyuan, mass electrification of transport will reduce China's dependence on imported oil, which presently meets around 70% of national demand. The introduction of increasingly advanced battery technologies and the expansion of charging networks are expected to accelerate this process.

Development of RES as a pillar of energy transition

In parallel to the electrification of the automotive industry, China invests heavy in renewable energy sources. The country is simply a global leader in solar and wind energy production. In 2022, the installed power in wind and solar energy exceeded 1200 GW, which accounts for over a 3rd of China's full energy output.

The improvement of RES not only reduces dependence on oil, but besides contributes to reducing greenhouse gas emissions. The Chinese government undertook to accomplish carbon neutrality by 2060, and a key component of this strategy is the gradual departure from coal.

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Carbon simplification in energy

China, the largest coal maker and consumer in the world, is taking increasingly decisive steps to limit its use. In 2022, the share of coal in China's energy mix fell below 60%, which is simply a historical minimum. The government plans to further close inefficient coal plants and replace them with cleaner energy sources.

China's strategy, based on the electrification of transport, the improvement of RES and the simplification of coal consumption, aims not only at improving energy safety but besides at combating climate change. If these plans are implemented, China can become a global leader in green transition and their dependence on oil imports will decrease significantly.

Source:

1. South China Morning Post: China can halt buying oil from another countries in 20 years, NPC department Liu Hanyuan says
2. International Energy Agency (IEA): Reports on EV and RES markets in China.
3. China government data on the capacity installed in wind and solar power.

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      Leszek B. Glass

      Email: [email protected]

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