Caixin
Mar 07, 2022 06:39 PM
ECONOMY

China Shuns Energy Use Target to Focus on Securing Fuel Supply

President Xi Jinping, left, prepares to take his seat as he arrives with Premier Li Keqiang at the Great Hall of the People on March 4, in Beijing. Photo: Bloomberg
President Xi Jinping, left, prepares to take his seat as he arrives with Premier Li Keqiang at the Great Hall of the People on March 4, in Beijing. Photo: Bloomberg

(Bloomberg) — China declined to set a new hard target for energy use and will focus on securing fuel supplies as the world’s biggest oil, gas and coal importer navigates unprecedented tumult in global markets.

Instead of an annual goal for energy consumption per unit of GDP, one of the nation’s favored metrics for progress on climate action, China will give itself more flexibility to meet targets previously set for 2025 to help support growth.

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