On June 23, 2022, China’s six government departments, including the Ministry of Industry and Information Technology and the National Development and Reform Commission, announced an action plan to improve energy efficiency in the industry sector. As its target, the action plan aims to reduce energy consumption per 10,000 yuan ($1,500) of industry value added of industrial companies with an annual income of 20 million yuan or more 13.5% by 2025 from the 2020 level. It also lays out the following key measures:
- Improve energy efficiency in key industries and areas.
- Improve the energy efficiency of energy-consuming equipment and systems.
- Comprehensively improve the energy efficiency of companies and industrial parks.
- Promote low-carbon energy in the industry sector.
- Improve energy efficiency using digital technologies such as 5G.
- Promote the development of energy-saving technologies, products and services.
- Improve relevant systems and mechanisms.