Overview of China's 14th Five Year Plan

Regulatory

This analyst note forms one in a series of reporting on government launched energy transition initiatives. These are not drafted to include any form of political opinion, or bias, and as such represent a clear reporting of the facts known at the time of publication. Any suggestion of political leanings in unintentional.

The 14th Five Year Plan was released in March, 2021 at the Chinese government "Two Sessions" meeting. 

A Five-Year Plan for Economic and Social Development is in of itself not a policy document, but instead, a sort of guidance document on the next set of aims and objectives in key areas. The plan acts as an overall country wide master plan, through which all Chinese government policies are then generated, or altered, as needed. In other words, these five-year plans are then translated into central and local policy through central ministries and local governments. 

Key headlines from the plan include:
• By 2025 the energy consumption per unit of GDP and carbon dioxide emissions will be reduced by 13.5% and 18%, respectively,
• Forest coverage will be increased to 24.1%, from 23.4%,
• The nation, and each province is required to formulate an action plan on how to peak CO2 emissions before 2030.

Sector specific plans from the direction set in the 14th Five Year Plan will be published later in 2021, or early 2022, such as the 14th Five Year Plan for Energy and the 14th Five Year Plan for Industry. These will be analysed and reported out by ACRIS as they are released.

 

 

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