1Drobotiuk, O, 2Osadchuk, V, 3Shaidetska, V
1Ph.D. in Economics, Kyiv National Economic University named after Vadym Hetman Institute for Contemporary China Studies named after Borys Kurts 03057, Kyiv, 54/1 Peremohy prospect khomenko@kneu.edu.ua
2Kyiv National Economic University named after Vadym Hetman Institute for Contemporary China Studies named after Borys Kurts 03057, Kyiv, 54/1 Peremohy prospect leradmn@ukr.net
3Kyiv National Economic University named after Vadym Hetman Institute for Contemporary China Studies named after Borys Kurts 03057, Kyiv, 54/1 Peremohy prospect shaidvar@gmail.com
Kitaêznavčì doslìdžennâ 2020, 1:17–26
Section: Political, social and economic development of China
Language: Ukrainian

Global climate change, scarcity of natural resources and the global trend of sustainable development have led to the transformation of the energy sector. Moreover, the balanced management of natural resources is one of the critical challenges for governments around the world. Renewable energy is the way to overcome the shortage of traditional energy sources and reduce carbon dioxide emissions into the environment. It is the development of renewable energy and access to low-cost, reliable, sustainable and modern energy sources that is one of the seventeen sustainable development goals adopted by the UN in 2015.

China’s rapid economic development, which began 40 years ago with a comprehensive reform policy, has led to a growing demand for energy. Since 1978, the Chinese government has introduced many measures to attract investment and restructure the energy sector. In 2018, according to the international organization Enerdata, China ranked first in energy production, sales and consumption, ahead of the United States and Japan.

The growth rate and size of the Chinese economy require significant energy consumption, so along with the preservation of traditional energy sources, China is actively increasing the generation of electricity from renewable sources, mainly solar and wind. Statistics show that China has a leading position in the field of renewable energy and is the largest investor in it. China has the highest share of solar energy consumption in the world, and wind energy is the second most important renewable energy in the country. It is in these sectors of renewable energy that most specialists are employed. China has significant investment resources for the further development of renewable energy, which meets the national goal.

The article presents a retrospective analysis of China’s energy sector transformation, a description of the current state of production and consumption of traditional and renewable energy.

Keywords: China, energy transformation, green energy, green growth, low carbon economy, renewable energy

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