Facing the pressure of growing uncertainties in the global energy market caused by geopolitical disputes, China has pledged to exert maximum efforts to safeguard its energy supply.
Despite external pressure, China still possesses the ability to guarantee secure, reliable and stable energy supply, said Fu Linghui, spokesperson for the National Bureau of Statistics.
For the first quarter of 2022, the country’s raw coal production increased by 10.3% year-on-year to 1.08 billion tons, while crude oil production saw a steady increase of 4.4% and power generation rose 3.1% from a year ago to 1.99 trillion kilowatts. -hours.
Since energy is the fundamental pillar of economic and social development, a previous executive meeting of the State Council called for further strengthening energy supply and optimizing the energy mix.
For now, coal is still the main energy pillar in China and will still guarantee the country’s energy and power security for some time, because the country has enough coal resources, said Yu Bing, deputy director of the National Energy Administration.
Last year, coal generated 60% of the country’s electricity with an installed capacity of less than 50%, Yu said.
To ensure this year’s coal supply, the country will strive to increase coal production capacity by 300 million tons by approving higher production capacity, increasing production and commissioning new projects.
A total of 100 billion yuan ($15.11 billion) in loans will be issued by China’s central bank to support coal development and energy storage.
China will also promote the clean and efficient use of coal and strengthen the construction of storage facilities, accelerating the clean and low-carbon transformation of power systems.
As part of the country’s efforts to achieve peak carbon and carbon neutrality goals, renewable energy has a key role to play.
China’s installed renewable energy capacity recorded rapid growth in the first quarter of the year. During the January-March period, wind power capacity jumped 17.4% year-on-year to 340 million kilowatts, while solar parks saw their capacity reach 320 million kilowatts, with a 22.9% increase.
As hydrogen has become an important strategic choice for major developed economies looking to accelerate their energy transformation and modernization, China is also preparing for the future of hydrogen.