China Update 2024

On the 25th -26th November 2024, the China Economy Program will present the 24th annual China Update. At this annual event, leading academics, policy makers and government representatives discuss the latest research on the Chinese economy. Over the years, the China Update has cemented its status as Australia’s premier forum for in-depth discussion and analysis of the Chinese economy.

This year, the theme of the China Update is on “The Great Energy Transformation in China”. China has started the strive to reach peak carbon emissions by 2030 and carbon neutrality by 2060, setting in motion a new effort for the transition to a green, sustainable, and cleaner economy, since 2020. The economy, historically reliant predominantly on coal for power generation, has ambitiously developed various cleaner energy sources.

This transformation encompasses multifaceted strategies ranging from investment in renewable energy, development of low-emission technologies, to more stringent policy regulations on emissions. Renewable energy sources like hydroelectric power, wind, solar and biomass have received substantial attention and investment, with China emerging as a global leader in renewable energy capacity.

In the technology space, China's commitment to transitioning towards electric vehicles (EVs) has catalysed the development of a robust electric vehicle market, fostered innovation in battery technology and charging infrastructure. China has now become the largest exporter of EVs in the world market. These developments have potential to help curb China’s as well as global carbon footprint and mitigate environmental degradation.

Nevertheless, challenges persist domestically, including the need for grid modernization to accommodate intermittent renewable energy sources and addressing the socio-economic impacts on coal-dependent regions. In the international market, China’s efforts towards a cleaner and more sustainable energy landscape have helped position itself as a global leader in sustainable economic development. This could have positive impacts on green development in other economies through enhancing trade of green products, the global renewable energy development, and international investments in energy transformation. However, There are challenges in global trade and investment of green technologies and products faced with rising geopolitical tensions and trade protectionism which need to be managed in order to achieve a win-win outcome from the ongoing global energy transformation.

In China Update 2024, we will delve into the above-mentioned issues and aim to identify new opportunities and challenges for deepening energy transformation in China, and for carrying out much needed international energy cooperation.

Please check the registration page for an updated conference program.