China’s Global Energy Projects and Finance

Alicia Girón

Journal of Economic Issues, 2025, vol. 59, issue 2, 550-561

Abstract: China’s energy transition represents one of the most significant transformations in the global energy landscape. This study analyzes China’s dual role as the world’s largest greenhouse gas emitter and its position as a global leader in renewable energy production. Drawing on Schumpeter’s theory of “creative destruction” and Minsky’s framework of “Big Government” and “Big Bank,” the article explores how state intervention, corporate governance, and institutional investment have driven structural changes in China’s productive systems. While renewable energy projects—particularly solar, wind, and hydroelectric—have benefitted from substantial public and private investments, coal remains deeply embedded in China’s energy strategy, accounting for 56.2% of the country’s consumption as of 2022.This article concludes that China’s energy strategy offers valuable insights into the interplay of technological innovation, institutional finance, and state-driven policies in advancing a Just Transition. The findings align with international climate agreements such as the Paris Agreement and the 2030 Agenda for Sustainable Development, while acknowledging the complexities of balancing economic growth with environmental sustainability

Date: 2025
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DOI: 10.1080/00213624.2025.2493566

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