The forecast for total support on all fossil fuels for producers in China from 2024 to 2028 shows a decreasing trend, with values dropping from 0.022 of GDP in 2024 to 0.014 of GDP by 2028. This indicates a steady reduction in governmental support or subsidies for fossil fuels by approximately 9.09% year over year. This equates to a compound annual growth rate (CAGR) of approximately -8.75% over the forecast period, illustrating a strong policy shift.
Future trends to watch for:
- Governmental policy changes supporting renewable energy investments.
- Impacts of global carbon emission reduction commitments on fossil fuel subsidies.
- Potential economic impacts of reduced fossil fuel support on related industries.