THE GLOBAL ENERGY STRUCTURE TRANSFORMATION PROCESS IS ACCELERATING. WITH INTERNATIONAL EFFORTS TO ADDRESS CLIMATE CHANGE AND THE INCREASING CONSENSUS ON LOW-CARBON ENERGY, MORE AND MORE COUNTRIES ARE ACTIVELY IMPLEMENTING POLICY MEASURES TO PROMOTE THE DEVELOPMENT OF RENEWABLE ENERGY INDUSTRIES, AND THE PROSPECTS FOR THE DEVELOPMENT OF GREEN ENERGY INDUSTRIES ARE PROMISING.THE INTERNATIONAL ENERGY AGENCY'S RECENTLY RELEASED "2020 WORLD ENERGY OUTLOOK" REPORT SHOWS THAT AGAINST THE BACKDROP OF OVERALL GLOBAL ENERGY DEMAND DECLINE, THE DEVELOPMENT AND UTILIZATION OF RENEWABLE ENERGY HAVE SHOWN GREATER RESILIENCE. IT IS EXPECTED THAT FROM 2020 TO 2030, RENEWABLE ENERGY ELECTRICITY DEMAND WILL INCREASE BY 2/3, ACCOUNTING FOR ABOUT 80% OF THE GLOBAL ELECTRICITY DEMAND INCREMENT.THE INTERNATIONAL ENERGY AGENCY URGES MORE COUNTRIES TO ACTIVELY FORMULATE EFFECTIVE ENERGY POLICIES, ACCELERATE THE TRANSFORMATION OF ENERGY STRUCTURE, AND PROMOTE THE SUSTAINED GROWTH OF THE RENEWABLE ENERGY INDUSTRY.RENEWABLE ENERGY INDUSTRY GROWS AGAINST THE TRENDIN THE 2020 WORLD ENERGY OUTLOOK REPORT, THE INTERNATIONAL ENERGY AGENCY PREDICTS THAT GLOBAL ENERGY DEMAND WILL NOT FULLY RECOVER TO PRE PANDEMIC LEVELS UNTIL AT LEAST 2023. ACCORDING TO THE REPORT, GLOBAL ENERGY DEMAND IS EXPECTED TO DECREASE BY 5% THIS YEAR DUE TO FACTORS SUCH AS THE PANDEMIC, WITH OIL DEMAND DROPPING BY 8% AND COAL USAGE DECREASING BY 7%. HOWEVER, THE RENEWABLE ENERGY INDUSTRY CONTINUES TO GROW AND IS EXPECTED TO REPLACE COAL AS THE MAIN POWER GENERATION METHOD BY 2025. BY 2030, RENEWABLE ENERGY WILL PROVIDE NEARLY 40% OF THE WORLD'S ELECTRICITY SUPPLY.THE WORLD ENERGY STATISTICAL REVIEW RELEASED BY BP SHOWS THAT WHILE GLOBAL COAL CONSUMPTION CONTINUES TO DECLINE, RENEWABLE ENERGY IS GROWING AT A RECORD PACE, ACCOUNTING FOR OVER 40% OF PRIMARY ENERGY GROWTH IN 2019.THE LATEST REPORT PUBLISHED BY EUROSTAT IN NOVEMBER SHOWS THAT THE TOTAL PRODUCTION OF RENEWABLE ENERGY WITHIN THE EU INCREASED BY 2.8% YEAR-ON-YEAR IN 2018. COMPARED WITH 10 YEARS AGO, THE PROPORTION OF FOSSIL FUELS HAS SHOWN A CONTINUOUS DOWNWARD TREND IN 2018, WHILE RENEWABLE ENERGY HAS SHOWN AN UPWARD TREND, WITH A GROWTH RATE OF 49.2%.CURRENTLY, 25% OF ENERGY IN LATIN AMERICA COMES FROM RENEWABLE ENERGY SOURCES, WITH SIGNIFICANT GROWTH IN WIND AND PHOTOVOLTAIC POWER GENERATION IN RECENT YEARS. ACCORDING TO THE BRAZILIAN SOLAR ENERGY ASSOCIATION, THE INSTALLED CAPACITY OF SOLAR POWER GENERATION IN BRAZIL HAS INCREASED MORE THAN FIVEFOLD SINCE 2018. THE LATEST DATA FROM THE BRAZILIAN WIND ENERGY ASSOCIATION SHOWS THAT THE INSTALLED CAPACITY OF WIND POWER GENERATION IN THE COUNTRY HAS INCREASED BY MORE THAN 15 TIMES SINCE 2010.ACCORDING TO DATA FROM THE INTERNATIONAL RENEWABLE ENERGY AGENCY, WIND POWER IS CURRENTLY THE MOST POPULAR RENEWABLE ENERGY GENERATION MODEL IN LATIN AMERICA, WITH A CUMULATIVE INVESTMENT OF 8.9 BILLION US DOLLARS LAST YEAR, A YEAR-ON-YEAR INCREASE OF 87%. SOLAR POWER GENERATION FOLLOWED CLOSELY BEHIND, ABSORBING A CUMULATIVE INVESTMENT OF 8.1 BILLION US DOLLARS, A YEAR-ON-YEAR INCREASE OF 31%.THE DEVELOPMENT OF THE PHOTOVOLTAIC INDUSTRY IN AFRICA IS ALSO ACCELERATING. ACCORDING TO MARKET RESEARCH REPORTS FROM INDUSTRY ORGANIZATIONS BLOOMBERG NEW ENERGY FINANCE AND GREEN CAPE, SOUTH AFRICAN SOLAR LEASING PLATFORM SUN EXCHANGE PREDICTS THAT THE MARKET POTENTIAL FOR COMMERCIAL AND INDUSTRIAL PHOTOVOLTAICS IN SUB SAHARAN AFRICA MAY EXCEED $7 BILLION WITHIN THE FIVE-YEAR PERIOD FROM 2019 TO 2024.MULTIPLE COUNTRIES INCREASE THEIR EFFORTS IN DEVELOPING NEW ENERGYAT PRESENT, MORE AND MORE COUNTRIES ATTACH IMPORTANCE TO THE DEVELOPMENT AND UTILIZATION OF NEW ENERGY, AND CORRESPONDINGLY INTRODUCE MORE INDUSTRIAL SUPPORT POLICIES AND GREEN RECOVERY PLANS TO ACCELERATE THE TRANSFORMATION OF ENERGY STRUCTURE TOWARDS LOW-CARBON.SOUTH KOREA RECENTLY ANNOUNCED A LONG-TERM RENEWABLE ENERGY PLAN TO INCREASE THE DEVELOPMENT OF RENEWABLE ENERGY ELECTRICITY. ACCORDING TO THE PLAN, BY 2034, ALL COAL-FIRED POWER PLANTS IN SOUTH KOREA WILL BE RETIRED, AND THE PROPORTION OF RENEWABLE ENERGY IN THE COUNTRY'S ENERGY STRUCTURE WILL INCREASE FROM THE CURRENT 15.1% TO 40%.THE FRENCH GOVERNMENT'S "2030 NATIONAL ENERGY PLAN" STATES THAT IT WILL CONTINUE TO INCREASE THE PROPORTION OF RENEWABLE ENERGY GENERATION, ESPECIALLY WIND POWER, IN ITS POWER SUPPLY SECTOR TO ACHIEVE ENERGY TRANSITION. BY 2030, THE PROPORTION OF RENEWABLE ENERGY GENERATION IN FRANCE'S ELECTRICITY SUPPLY IS EXPECTED TO REACH 40%, WITH WIND POWER ACCOUNTING FOR AN ESTIMATED 20%. GERMANY PLANS TO INCREASE THE PROPORTION OF RENEWABLE ENERGY FROM THE CURRENT 18% TO 30%.IN JULY OF THIS YEAR, THE EUROPEAN COMMISSION LAUNCHED THE EU ENERGY SYSTEM INTEGRATION DEVELOPMENT STRATEGY, WHILE PROMOTING THE ESTABLISHMENT OF INDUSTRY ALLIANCES IN KEY AREAS SUCH AS CLEAN HYDROGEN ENERGY AND BATTERIES, PROMOTING THE DEVELOPMENT OF RELATED FIELDS AND DRIVING INVESTMENT THROUGH INTER INDUSTRY COOPERATION. IN THE LONG-TERM BUDGET OF THE "NEXT GENERATION EU" REVITALIZATION PLAN, THE EU REQUIRES MEMBER STATES TO ALLOCATE AT LEAST 37% OF PUBLIC INVESTMENT TO CLIMATE CHANGE RELATED AREAS IN PROMOTING ECONOMIC RECOVERY, AND FURTHER RELAX FINANCIAL RESTRICTIONS ON MEMBER STATES' INVESTMENT IN RENEWABLE ENERGY PROJECTS.THE CHILEAN GOVERNMENT OFFICIALLY LAUNCHED A GREEN HYDROGEN ENERGY STRATEGY IN NOVEMBER THIS YEAR TO PROMOTE ENERGY STRUCTURE TRANSFORMATION. LAST DECEMBER, THE CHILEAN GOVERNMENT ANNOUNCED PLANS TO ACCELERATE THE ADJUSTMENT OF ITS ENERGY STRUCTURE, AIMING TO REDUCE THE SHARE OF COAL-FIRED POWER GENERATION TO 20% BY 2024, GRADUALLY INCREASE THE PROPORTION OF HYDRO, WIND, SOLAR, AND BIOMASS POWER GENERATION, AND RAISE THE PROPORTION OF RENEWABLE ENERGY TO 70% OF THE COUNTRY'S TOTAL ENERGY BY 2030. BY 2040, ALL COAL-FIRED POWER PLANTS WILL BE COMPLETELY SHUT DOWN.THE BRAZILIAN GOVERNMENT CONTINUES TO INTRODUCE POLICY MEASURES TO PROVIDE FUNDING AND POLICY SUPPORT FOR INFRASTRUCTURE AND PROJECTS RELATED TO SOLAR ENERGY AND OTHER INDUSTRIES. BY 2035, THE TOTAL INVESTMENT SCALE OF BRAZIL'S POWER INDUSTRY WILL EXCEED 30 BILLION US DOLLARS, OF WHICH 70% WILL BE USED FOR RENEWABLE ENERGY TECHNOLOGIES SUCH AS SOLAR PHOTOVOLTAICS, WIND POWER, BIOMASS ENERGY, AND OCEAN ENERGY.THE PROSPECTS FOR FUTURE INDUSTRIAL DEVELOPMENT ARE PROMISINGDR. FATIH BIROL, EXECUTIVE DIRECTOR OF THE INTERNATIONAL ENERGY AGENCY, STATED THAT IF GOVERNMENTS AND INVESTORS AROUND THE WORLD CAN INCREASE THEIR EFFORTS TO DEVELOP AND UTILIZE CLEAN ENERGY IN ACCORDANCE WITH THE AGENCY'S SUSTAINABLE DEVELOPMENT VISION, IT WILL BE A GREAT ENCOURAGEMENT FOR ADDRESSING GLOBAL CLIMATE CHANGE ISSUES. THE INTERNATIONAL ENERGY AGENCY CALLS ON GOVERNMENTS, ENERGY COMPANIES, INVESTORS, AND THE PUBLIC TO ACTIVELY PARTICIPATE AND PROMOTE THE OPTIMIZATION AND TRANSFORMATION OF THE ENERGY STRUCTURE.FORMER CHIEF ECONOMIST OF THE WORLD BANK, NICHOLAS STERN, STATED THAT GLOBALLY, THERE IS INCREASING UNCERTAINTY IN THE SUPPLY OF FOSSIL FUELS SUCH AS OIL AND NATURAL GAS. IN CONTRAST, THE DEVELOPMENT PROSPECTS OF THE RENEWABLE ENERGY INDUSTRY ARE PROMISING. STERN ANALYSIS SHOWS THAT WITH THE INCREASING ATTENTION PAID TO CLIMATE CHANGE, MORE AND MORE COUNTRIES ARE STRIVING TO REDUCE EMISSIONS AND POLLUTION CAUSED BY FOSSIL FUELS SUCH AS OIL IN THEIR POLICY GUIDANCE. AT THE SAME TIME, THE COST OF DEVELOPING RENEWABLE ENERGY WORLDWIDE IS CONTINUOUSLY DECREASING, PROVIDING AN OPPORTUNITY FOR THE GROWTH OF THIS INDUSTRY. IN THE MEDIUM TO LONG TERM, INVESTING IN THE DEVELOPMENT OF RENEWABLE ENERGY INDUSTRIES WILL RECEIVE INCREASING ATTENTION AND HAVE BEEN INCLUDED IN THE DEVELOPMENT STRATEGIES OF MANY COUNTRIES.BEN MIKE WILLIAMS, AN ENERGY EXPERT AT THE BRUGGE INSTITUTE FOR ECONOMIC RESEARCH IN BELGIUM, BELIEVES THAT WHILE THE GOVERNMENT INCREASES PUBLIC INVESTMENT, IT IS ALSO IMPORTANT TO EFFECTIVELY ATTRACT PRIVATE SECTOR INVESTMENT. ON THE ONE HAND, GOVERNMENTS OF VARIOUS COUNTRIES CAN ADJUST MARKET EXPECTATIONS THROUGH POLICY GUIDANCE, ENABLING INVESTORS TO FORESEE THE PROSPECTS OF INVESTING IN A LOW-CARBON ECONOMY; ON THE OTHER HAND, WE SHOULD FURTHER ACCELERATE THE INTEGRATION OF INTERNAL ENERGY MARKETS, STRENGTHEN INTERNATIONAL POLICY COORDINATION, ENSURE THAT ENERGY PRICES REMAIN WITHIN A STABLE AND REASONABLE RANGE, AND ATTRACT INVESTORS' ATTENTION TO THE GREEN ENERGY INDUSTRY."IN ORDER TO ACHIEVE SUSTAINABLE DEVELOPMENT AND THE CLIMATE GOALS OF THE PARIS AGREEMENT, MEMBER COUNTRIES SHOULD STRIVE TO INCREASE THE PROPORTION OF RENEWABLE ENERGY STRUCTURE, ENSURE ACCESS TO UNIVERSALLY RELIABLE ELECTRICITY, AND ACTIVELY BUILD AN INCLUSIVE, RESILIENT, LOW-CARBON ENERGY SYSTEM." ALI SHAHBANA, EXECUTIVE SECRETARY OF THE UNITED NATIONS ECONOMIC AND SOCIAL COMMISSION FOR ASIA AND THE PACIFIC, SAID AT THE 2020 GLOBAL ENERGY INTERNET (ASIA) CONFERENCE. AT THIS CONFERENCE, IT WAS PROPOSED TO ACCELERATE THE DEVELOPMENT OF CLEAN ENERGY BASES WITH GOOD RESOURCE CONDITIONS AND EXCELLENT ECONOMIC BENEFITS, DELIVER ELECTRICITY TO ENERGY CENTERS WITHIN THE CONTINENT, AND CREATE AN ENERGY DEVELOPMENT PATTERN OF "WEST TO EAST POWER TRANSMISSION, NORTH TO SOUTH POWER SUPPLY, MULTI ENERGY COMPLEMENTARITY, AND REGIONAL INTERCONNECTION" WITHIN THE CONTINENT. ON THIS BASIS, WE WILL BUILD POWER INTERCONNECTION CHANNELS BETWEEN ASIA, EUROPE, AFRICA, AND OCEANIA TO ACHIEVE CROSS CONTINENTAL ENERGY MUTUAL ASSISTANCE.