As of 2023, the total support on all fossil fuels for transportation in China stood at a level that was slightly higher than the forecasted value for 2024, indicating an anticipated gradual decline in financial support. Over the forecast period from 2024 to 2028, the support is expected to decrease consistently, with a year-on-year reduction observed annually.
Key variations include:
- A continuous year-on-year decline from 2024, starting at 20.23 billion USD, to 18.79 billion USD by 2028.
- A notable decrease in support with an average annual compound growth rate (CAGR) reflective of this trend over the five-year period.
Future trends to watch for include a potential acceleration of policy shifts favoring renewable energy sources, which may further reduce reliance on fossil fuel support. Additionally, technological advancements in transportation and global economic factors could influence future support levels.
