Conventional Energy Trends

Growth in energy imports

From the point of view of import and export, China is a large energy producing country and a large energy consuming country, with strong demand for energy imports. In addition to a decline in coal imports in 2015, China's imports of crude oil, coal and natural gas showed year-on-year growth from 2014-2019.In 2019, China imported 510 million tons of crude oil, 300 million tons of coal and 100 million tons of natural gas, respectively.

Energy Utilization Efficiency Improvement

Energy utilization efficiency can be reflected from the energy consumption per unit of GDP and the related coefficient.From 2014-2019, China's energy consumption per unit of GDP decreased year by year, meaning that China's energy utilization efficiency grew year by year.In 2019, China's consumption per 10,000 yuan of GDP was 0.49 tons of standard coal, down 4.84% from 2018.

The elasticity coefficient of energy consumption is the ratio of the average annual growth rate of energy consumption to the average annual growth rate of the national economy, which to a certain extent can show the relationship between the development of the national economy and energy consumption.From 2014 to 2019, the elasticity coefficient of China's energy consumption declined firstly and then increased.In 2019, the elasticity coefficient of China's energy consumption is 0.77, which is larger than that in 2018 growth, but lower than 1, indicating that the growth rate of China's energy consumption's is lower than the growth of China's national economy.

Similarly, the elasticity coefficient of electricity consumption has also declined in recent years, and in 2019, the elasticity coefficient of electricity consumption fell to 0.74, indicating that the growth rate of China's electricity consumption is also lower than the growth rate of China's national economy, and China's energy utilization efficiency can be seen.

--The above data comes from the China Green Energy (Clean Energy) Industry Market Outlook Report by Foresight Industry Research Institute.