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China
Approximately half of the world's production of energy-intensive raw materials takes place in China, making the country pivotal for global industrial transformation.
Industry consumed two-thirds of China’s electricity in 2022 and was responsible for 38% of China’s CO2 emissions. The country has set itself the goal of achieving carbon neutrality by 2060 and peaking greenhouse gas emissions before 2030. To achieve these targets, Chinese industry needs to embark on a path toward a green transformation alongside the energy sector decarbonisation. The industry sector has great potential to use renewable electricity and renewable hydrogen, offer demand-side flexibility to support more installations of renewable power generation, and contribute to circular economy. China is pursuing regulatory approaches similar to those of the European Union, for example, a national carbon trading system, electrification, and increasing green investment. Agora Industry’s work in China focuses on steel sector transformation which includes curbing over-capacity and shifting to low-carbon steel-making processes, promoting the use of renewable energy and electrification and the application of renewable hydrogen. Agora also brings together stakeholders to share experiences and discuss policy concepts in an international context.
