Abstract:
Having experienced a high growth period for three decades, Chinese economy now enters a new normal state that characterizes mainly with moderate economic growth, structural adjustment and technological innovation.This new normal state has profound implications for not only China but also the world. This research intends to better understand potential change in China 's aggregate energy demand under the new normal state in the next 5-15 years. We approach energy demand from three determinants, namely GDP growth, structural change and energy efficiency. Using time-series data between 1980 and 2013, a co-integration model is set up to predict energy demand. The results reveal that the model behaves well and can be a good predictor of China 's energy demand.
Key words:
new normal; structural change; efficiency improvement; energy demand;
Reference:
Lin, W., Zhou, Y., & Su, J. (2016). A forecast of Chinese energy demand. Academic Research, 2016(3), pp.106-112.（《新常态下中国能源需求预测》）
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