China's State Council released a new carbon peaking action plan that sets a target for new energy vehicles to make up 30% of the total vehicle fleet by 2030. The plan also calls for 25% of commercial transport vehicles to be new energy by that year, and pushes electrification in heavy trucks, ports, and airports. To support this, the government plans to expand charging stations, battery-swapping facilities, and zero-carbon road corridors along major highways. Beyond transport, the plan targets 2.8 billion kilowatts of installed wind and solar capacity by 2030, up from current levels, and aims for 300 million kilowatts of new energy storage. It also sets a goal for non-fossil energy to reach 25% of total consumption and proposes building 100 zero-carbon industrial parks. A national low-carbon transition fund is planned to steer private investment into carbon peaking and neutrality projects.
