Pan Jiahua, deputy chair of China’s National Expert Committee on Climate Change
In the name of ensuring a stable energy supply, China still depends on fossil fuels. In 2022, we spent 3.03 trillion yuan on oil, costing 2.51% of our GDP. However, did this tremendous cost bring any employment opportunity or economic growth? Unfortunately, no, the expenditure just goes up in smoke. But if the money is invested in the production of photovoltaic modules, wind turbines, power batteries, automobiles, and heat pumps, there will be an immense potential for job creation and economic growth in these industries.
Moreover, from a security perspective, our dependence on oil constantly raises concerns. Is it available and affordable? Can we ensure a secure supply? These endless concerns have consumed great defense, diplomatic and financial resources. However, a pure electric vehicle only consumes 12 kWh of electricity per 100 km, which costs a mere 6 yuan at standard residential electricity rates. In contrast, a fossil fuel car requires 8 liters of oil per 100 km, amounting to more than 60 yuan. From 60 to 6, this can help improve people’s well-being significantly!
