Review of energy finance and corresponding policies in promoting renewable energy sustainable development in China

Abstract

As global climate warming and the continued use of fossil energy are unsustainable, it has become imperative to accelerate the development of renewable energy. As one of the largest developing countries, this is especially true for future sustainable development in China; therefore, focusing on renewable energy can significantly reduce its dependence on imported fossil fuels. With policy support, China’s renewable energy industries have had rapid development and are now at the international forefront level in some fields. However, the renewable energy industries are facing challenges, particularly in terms of energy finance. Basically, the renewable energy industry in China is facing a contradictory dilemma because of funding shortages and inefficient investment strategies, due in part to government-centered renewable energy investment and financing. In view of this, the development status, modes and renewable energy investment characteristics, financing and the corresponding polices in China are discussed in detail in this paper. As certain constraints are hampering the promotion of sustainable renewable energy development, based on the analysis of the key issues, optimizing countermeasures and feasible proposals are presented. All in all, this study is of significance for energy finance and for the development of corresponding policies for sustainable renewable energy development in China.