Outlook on China's New Energy System

ABSTRACT The construction of a new energy system is crucial for advancing the global energy transition, ensuring energy security, and achieving carbon peaking and carbon neutrality goals. This paper reviews China's progress in energy transition, identifies the key features of the new energy system, and employs the China Economy‐Energy‐Emission Model to project energy consumption and carbon emission trajectories from 2025 to 2060. The analysis highlights five key features of the new energy system: a low‐carbon energy structure, diversified supply‐demand interaction patterns, intelligent system operations, a robust green energy industry, and well‐established market mechanisms. To accelerate the transition, it is essential to shift from fossil fuels to non‐fossil fuel sources on the supply side, while promoting electricity and hydrogen substitution on the demand side. Key strategic priorities include breakthroughs in next‐generation electricity system, carbon capture, utilization and storage (CCUS), and cost‐effective hydrogen production, storage, and utilization system.