By Chen Changsheng, Xu Wei & Li Chengjian, Department of Macroeconomic Research, DRC

Research Report, No.378, 2021 (Total 6443) 2021-12-9

Abstract: China will make efforts to achieve peak carbon dioxide emissions by 2030 and carbon neutrality, i.e. the realization of net zero carbon emissions by 2060. China’s Endeavour is not only its commitment to the international community by actively complying with the historical trend of green and low-carbon development in the world, but also a profound change running through the overall process of China’s social and economic development, which boasts both challenges and opportunities. In view of comprehensive factors such as economic growth rate, industrial structure, emissions reduction technologies and policy implementation, China is expected to achieve peak carbon dioxide emissions by 2027. In this regard we need to adopt the following policy measures. One, we need to focus our work on the above-mentioned goals and refine the overall plan of economic development, green transformation and development safety by taking into account the existing constraints posed by development stage, regional gaps, and technologies and adhering to the general reduction stance in a safe, balanced, coordinated and targeted fashion. Two, we need to address the key issues to push ahead with the coordinated efforts of industries and regions in an orderly manner to continuously optimize carbon emissions reduction measures in the course of development. Three, we need to establish a comprehensive low-carbon governance system in line with relevant rules and regulations set out by the Party to ensure the steady promotion and fulfillment of peak carbon dioxide emissions and carbon neutrality on schedule.

Keywords: path toward realizing peak carbon emissions, industrial coordination, regional synergy, policy framework.