The forecast for total support on all fossil fuels for consumers in China indicates a gradual decline from $26.63 billion in 2024 to $25.76 billion by 2028, based on constant 2020 US dollars. The year-on-year decrease from 2024 to 2028 highlights a consistent reduction of about 0.8% on average per year, reflecting a strategic shift in energy priorities. In 2023, spending was approximately equal to early projected values for 2024.
Future trends to watch for include policy adjustments aimed at reducing reliance on fossil fuels and increasing investments in renewable energy. Changes in global oil prices and domestic energy consumption patterns will significantly influence these support figures.
