Re­port says en­ergy spend­ing could hit $5.7 tril­lion

China Daily (Canada) - - NEWSCAPSULE -

China could in­vest as much as $5.7 tril­lion by 2035 to find, pro­duce and save en­ergy, ac­count­ing for 15 per­cent of global spend­ing in the sec­tor, ac­cord­ing to a re­port.

The In­ter­na­tional En­ergy Agency said China will in­vest $1.6 tril­lion in en­ergy ef­fi­ciency by 2035, ac­count­ing for about one-fifth of the global to­tal.

Fatih Birol, chief econ­o­mist of the Paris-based IEA, told a work­shop on the re­port in Bei­jing on Thurs­day that China has made “out­stand­ing ef­forts” to in­crease en­ergy ef­fi­ciency and re­duce coal use to meet global cli­mate tar­gets.

Birol said that trans­porta­tion will be the largest tar­get for China’s in­vest­ment in en­ergy ef­fi­ciency, ac­count­ing for about 71 per­cent of the $1.6 tril­lion, fol­lowed by in­dus­try and the build­ing sec­tor. (Photo 1)

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