China’s energy sector: paths to sustainable development

The relevance of this topic is due to the key role played by China in the global economy and maintaining high rates of economic growth. The purpose of the study is to provide an in-depth analysis of China's energy sector that reflects long-term strategies for poverty alleviation and building a prosperous society (xiaokang), while considering energy policy goals. The research methodology includes the use of statistical analysis, analysis of scientific articles, and data extrapolation. The scientific novelty of the work lies in the fact that it confirms that the use of renewable energy sources (RES) and nuclear energy, as well as increased energy efficiency, can lead to peak carbon dioxide emissions by 2030. In the long term, it is important to develop hydrogen energy, bioenergy, and carbon capture technologies. The study results show a doubling of energy consumption in China from 2005 to 2022, while the energy intensity of GDP has decreased significantly over the same period. More than 60% of the country's electricity production comes from coal-fired power plants, but the growth of solar photovoltaic power capacity in China has outpaced that of any other country. Additionally, China is the world's second-largest oil consumer, but is also the world's leading producer of electric vehicle batteries, providing 70% of the world's power. The practical significance of this study is that its findings can be used to develop strategies and proposals for Chinese companies from the global community, promoting more efficient use of resources and reducing environmental impact.