China’s Two Sessions: GDP Growth and ImplicationsKey Implications of GDP Growth Target in 2022 Despite China’s strong rebound in 2021 at 8.1% from 2020 at 2.35%, the target GDP growth for 2022 is set at a cautiously ambitious 5.5% as announced in China’s annual “Two Sessions” legislative meetings. In translation, this growth will encompass more than 11 million new urban jobs, a CPI increase of 3%, more than 650 million metric tons of grain output, 2.8% budget deficit-to-GDP ratio, and RMB 3.65 trillion domestic investment target. These plans are critical to China’s economic and social developments in 2022, as the …
Wind, Hydro & “New Nuclear” – Energy Transition in China
Wind, Hydro & “New Nuclear” – Energy Transition in ChinaChina is still heavily reliant on coal to satisfy its demand for electricity. But having committed to becoming carbon neutral by 2060, the country is heavily investing in developing and iterating on energy sources such as nuclear energy or hydropower. Here is our summary of three key developments.In its rising energy consumption, China is still highly reliant on coal as a source of power: Coal accounted for 57.7% of the nation’s energy use in 2019. Furthermore, China built more than 50% of the world’s new coal-fired power plants in 2020 and …