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New Energy World magazine logo
New Energy World magazine logo
ISSN 2753-7757 (Online)

Is President Xi Jinping’s Green Dream still alive?


8 min read

Silhouettes of wind turbines set against orange sunset sky Photo: Wikipedia Commons
Renewable energy should account for about half of the growth of electricity consumption by the end of China’s five-year plan, despite a mindset that can’t shake off fossil fuels

Photo: Wikipedia Commons

China’s President Xi Jinping has embarked on an unprecedented third term in office, but policymakers have set an economic growth target of just 5% for 2023 – the lowest in decades. What does this mean for infrastructure and energy investment now? Adrian Holliday, capital markets journalist, reports.

Does a 2023 5% growth target for China mean renewable energy investment in the world’s second biggest economy is seeing a reset? Or even suggest a bout of new ‘realism’ after decades of out-performance?


The advantage of lowered expectations means disappointment risk can be better managed. Especially after a chronically bad hangover. Chinese growth in 2022 was just 3% as it crawled its way out of COVID-19 lockdowns. Even that figure is open to question, some think.


Dr Hongyi Lai, Associate Professor of Politics and International Relations at the University of Nottingham, says any close reading of China’s economy must absorb contradictory signals. As far as hydro, wind and solar investment and production goes, the world’s biggest CO2 emitter is robustly lashed to its five-year plan.


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