Much focus is on the visible boom in renewables and transport electrification as a driver of this peak. But a structural change is equally important: heavy industry output, responsible for over half of PRC emissions, is in decline due to the housing downturn. A shrinking population means fewer steel and cement emissions.
Five dams in the Yarlung Tsangpo Canyon, powering the Medog Hydropower Station, will generate 60 gigawatts of electricity. At full tilt, the complex will pump out 300 TWh a year—21 percent of the PRC's total hydropower output in 2024 and three times the might of the Three Gorges Dam.
Reforms to the PRC social credit system aim to address the persistent lack of access to finance and to strengthen the flow of goods, services, and capital within the domestic economy.
In rapidly evolving economies, a joined-up national market is taken for granted. Yet in the PRC, the past two decades+ of turbocharged growth are often credited to the very absence of such integration.