Outlook & Prospects

Outlook for 2021

In 2021, the power industry is facing a new market landscape. In respect of the macro-economy, with the effective control of the COVID-19 pandemic within the PRC and the new development mode of international and domestic “dual circulation” that features mutual promotion and support between both markets, it is expected that the national economy will continue to maintain a solid growth momentum. In terms of energy policy, the Chinese government has published the official schedule of achieving the targets of “Carbon Emission Peak” and “Carbon Neutrality” and promoted the development of a nationwide market for carbon emission rights trading, aiming to lead the trend of clean and low-carbon development in the power industry. In terms of power supply and demand, according to the forecast of The China Electricity Council, the national total electricity consumption is estimated to grow annually by 6% to 7% in 2021. The national power supply and demand would remain generally in balance while certain regions might suffer from insufficient power supply.