Trade Resources Industry Views China Aims to Cut Energy Intensity by Over 3.9% This Year

China Aims to Cut Energy Intensity by Over 3.9% This Year

China aims to cut energy intensity by over 3.9% this year, as it continues its drive to increase energy efficiency and cut emissions, according to a government work report delivered by Premier Li Keqiang Wednesday at the annual session of the National People's Congress.

China's energy intensity was cut by 3.7% last year, according to the work report.

A country's energy intensity is typically defined as the energy consumption per unit of GDP, according to the US Energy Information Administration. The higher the energy efficiency is in an economy, the lower the energy intensity.

China's 2014 target outlined in the work report is in line with earlier projections released by the National Energy Administration in January, estimating China will use 0.71 mt of coal equivalent energy to produce every Yuan 10,000 ($1,632) of GDP this year, down 3.9% from 2013.

Meanwhile, the emissions of sulfur dioxide and chemical oxygen demand will both be reduced by 2% this year. In 2013, emissions of sulfur dioxide and chemical oxygen demand was cut by 3.5% and 2.9%, respectively.

China will continue to increase the proportion of electricity generated from non-fossil fuels, with more development on wind, solar, hydro and nuclear power, Li said.

The government will also encourage exploration, exploitation and utilization of natural gas, coalbed methane and shale gas this year.

As for pricing reforms, China will continue to develop the natural gas pricing mechanism to be a "fully market-oriented mechanism" across the country, he added.

Source: http://news.chemnet.com/Chemical-News/detail-2263823.html
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China Sets 2014 Target Cuts for Energy Use and Emissions to Boost Efficiency
Topics: Chemicals