Accelerated Transition to Low-Carbon Economy: China’s New Energy Industries

China first identified low-carbon development as an important focus of economic transformation in its 12th FYP guidelines. This time, policymakers reiterated the need to accelerate the process with an aim to meet the carbon emissions control targets previously pledged at the United Nations General Assembly in September 2020, namely, to reach peak carbon emissions by 2030 and achieve carbon neutrality by 2060.