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S1-EP 059 . China's 2022 Economic Stimulus Packages: Implications on Energy Transition and Climate Policy
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Right before the ease of Shanghai's two-month lock-down, China State Council has been intensively convened and formulating a package of measures to stimulate economic activities, in order to get the economy back on track and keep major economic indicators within an appropriate range. This episode firstly discussed the logics behind this stimulus plan, and then analyzed the energy-related measures in the package. It is obvious that focus has been given on energy security and stable electricity supply in order to sustain its economic growth. In this context, policy makers support the growth of both fossil (mainly coal) and non-fossil fuels industries (mainly hydro, nuclear, wind). The rapid growth of wind and solar in the first four months this year were surely surprising, if building up the grid capacity to connect with more renewables, the stimulus plan will have a far-reaching impact on China's climate strategy and actions.
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