The forecast for total support on all fossil fuels for transportation in China shows a slight decline from 2024 to 2028, starting at $21.77 billion in 2024 and gradually decreasing to $21.32 billion in 2028. With the data starting at a higher level prior to 2024, the five-year Compound Annual Growth Rate (CAGR) represents an average annual decrease. Notably, the year-on-year variations suggest consistent downward adjustments, reflecting both policy shifts and market dynamics affecting fossil fuel support.
Future trends to watch include China's ongoing commitment to reducing carbon emissions, which may accelerate the transition away from fossil fuel subsidies. Additionally, technological advancements in renewable energy and electric vehicles could further influence these support dynamics, potentially altering the financial landscape for fossil fuels in transportation.
