China rolls out measures for green-oriented transition mechanism of energy

BEIJING -- China has rolled out policies and measures to improve the mechanism for a green-oriented transition of energy across the country, according to the National Development and Reform Commission Thursday.

The country will speed up building a clean, low-carbon, safe, and highly-efficient energy system while deepening reforms of mechanisms and innovation in the energy sector, said a document jointly released by the commission and the National Energy Administration.

By 2030, a pattern of energy production and consumption will be formed with non-fossil energy that can both basically meet the increase in energy demand and replace fossil energy stocks on a large scale, while the capacity ensuring energy security will be comprehensively enhanced, the document noted.

China has promised to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.

More specific measures, including fostering a new power system as well as a clean and efficient exploitation and utilizing mechanism of fossil energy will be launched, the document said, adding that international cooperation in the energy transition sector will be further enhanced.

Fiscal and financial policies supporting energy transition will also be rolled out, steering more national funds to the energy transition sector and facilitating the issuance of green bonds for eligible enterprises in the sector, according to the document.