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<br /> The Chinese dream<br /> Energy and commodities in an era of change<br /> May 2018<br /> Trade frictions<br /> US and China compete for economic space<br /> Vision and strategy<br /> From five-year plans to 2050 – China has a plan<br /> Leaner industries<br /> Capacity cuts do not mean less production<br /> Cultural reach<br /> The Belt and Road Initiative will change the geopolitical map of Eurasia<br /> Gravitational pull<br /> China will need more oil and gas to grow<br /> www.platts.com<br /> © 2018 S&P Global Platts, a division of S&P Global Inc. All rights reserved.<br /> May 2018<br /> Editors<br /> Paul Bartholomew<br /> Senior Managing Editor, Metals<br /> paul.bartholomew@spglobal.com<br /> Sebastian Lewis<br /> Head of Content, Greater China<br /> sebastian.lewis@spglobal.com<br /> Ross McCracken<br /> Managing Editor, Energy Economist<br /> ross.mccracken@spglobal.com<br /> Contributors<br /> Abache Abreu, Andre Agapi, Mike Cooper,<br /> Pa<a title="The Chinese dream: Energy and commodities in an era of change page 1" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=1"> The Chinese dream Energy and commodities in an er</a> <a title="The Chinese dream: Energy and commodities in an era of change page 2" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=2"> © 2018 S&P Global Platts, a division of S&P Globa</a> <a title="The Chinese dream: Energy and commodities in an era of change page 3" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=3"> May 2018 Editors Paul Bartholomew Senior Managing</a> <a title="The Chinese dream: Energy and commodities in an era of change page 4" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=4"> Sarah Cottle V</a> <a title="The Chinese dream: Energy and commodities in an era of change page 5" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=5"> Driven by both local and global concerns, environ</a> <a title="The Chinese dream: Energy and commodities in an era of change page 6" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=6"> Executive summary Long-term vision: In light of t</a> <a title="The Chinese dream: Energy and commodities in an era of change page 7" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=7"> © 2018 S&P Global Platts, a division of S&P Globa</a> <a title="The Chinese dream: Energy and commodities in an era of change page 8" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=8"> Trade giants lock horns </a> <a title="The Chinese dream: Energy and commodities in an era of change page 9" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=9"> new home, either domestically or offshore, as a r</a> <a title="The Chinese dream: Energy and commodities in an era of change page 10" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=10"> China’s grand plans: priorities and aims </a> <a title="The Chinese dream: Energy and commodities in an era of change page 11" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=11"> circumstances mean the priorities of lower levels</a> <a title="The Chinese dream: Energy and commodities in an era of change page 12" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=12"> China’s grand plans: priorities and aims redu</a> <a title="The Chinese dream: Energy and commodities in an era of change page 13" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=13"> Last year’s initiative to move 3 million househol</a> <a title="The Chinese dream: Energy and commodities in an era of change page 14" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=14"> The evolution of China Primary energy consumption</a> <a title="The Chinese dream: Energy and commodities in an era of change page 15" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=15"> 's energy demand ured, </a> <a title="The Chinese dream: Energy and commodities in an era of change page 16" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=16"> Supply-side reform: less is more </a> <a title="The Chinese dream: Energy and commodities in an era of change page 17" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=17"> Against this backdrop the supply- side reforms ha</a> <a title="The Chinese dream: Energy and commodities in an era of change page 18" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=18"> Supply-side reform: less is more </a> <a title="The Chinese dream: Energy and commodities in an era of change page 19" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=19"> Supply-side reform: less is more Like IFs, EA</a> <a title="The Chinese dream: Energy and commodities in an era of change page 20" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=20"> Alive and kicking: China hydrocarbon demand </a> <a title="The Chinese dream: Energy and commodities in an era of change page 21" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=21"> its giant coal industry, cutting the number of op</a> <a title="The Chinese dream: Energy and commodities in an era of change page 22" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=22"> Alive and kicking: China hydrocarbon demand C</a> <a title="The Chinese dream: Energy and commodities in an era of change page 23" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=23"> Alive and kicking: China hydrocarbon demand </a> <a title="The Chinese dream: Energy and commodities in an era of change page 24" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=24"> Alive and kicking: China hydrocarbon demand E</a> <a title="The Chinese dream: Energy and commodities in an era of change page 25" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=25"> </a> <a title="The Chinese dream: Energy and commodities in an era of change page 26" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=26"> US and China: energy interdependence </a> <a title="The Chinese dream: Energy and commodities in an era of change page 27" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=27"> US refineries are designed to process a slate of c</a> <a title="The Chinese dream: Energy and commodities in an era of change page 28" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=28"> Category Left </a> <a title="The Chinese dream: Energy and commodities in an era of change page 29" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=29"> Category Right </a> <a title="The Chinese dream: Energy and commodities in an era of change page 30" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=30"> Changing trade flows </a> <a title="The Chinese dream: Energy and commodities in an era of change page 31" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=31"> Source: Platts cFlow has recently emerged as a </a> <a title="The Chinese dream: Energy and commodities in an era of change page 32" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=32"> Clearer skies: China’s New Energy Economy </a> <a title="The Chinese dream: Energy and commodities in an era of change page 33" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=33"> Clearer skies: China’s New Energy Economy </a> <a title="The Chinese dream: Energy and commodities in an era of change page 34" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=34"> Clearer skies: China’s New Energy Economy Mor</a> <a title="The Chinese dream: Energy and commodities in an era of change page 35" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=35"> Clearer skies: China’s New Energy Economy ƒ T</a> <a title="The Chinese dream: Energy and commodities in an era of change page 36" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=36"> Hydrocarbons vs the N This infographic contrasts</a> <a title="The Chinese dream: Energy and commodities in an era of change page 37" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=37"> ew Energy Economy nomy with the opportunities off</a> <a title="The Chinese dream: Energy and commodities in an era of change page 38" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=38"> Clearer skies: China’s New Energy Economy At </a> <a title="The Chinese dream: Energy and commodities in an era of change page 39" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=39"> Clearer skies: China’s New Energy Economy </a> <a title="The Chinese dream: Energy and commodities in an era of change page 40" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=40"> Two birds, one stone: China’s E10 mandate </a> <a title="The Chinese dream: Energy and commodities in an era of change page 41" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=41"> Two birds, one stone: China’s E10 mandate Ini</a> <a title="The Chinese dream: Energy and commodities in an era of change page 42" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=42"> Two birds, one stone: China’s E10 mandate </a> <a title="The Chinese dream: Energy and commodities in an era of change page 43" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=43"> In addition to the existing 2.6 million mt/year c</a> <a title="The Chinese dream: Energy and commodities in an era of change page 44" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=44"> Waste matters </a> <a title="The Chinese dream: Energy and commodities in an era of change page 45" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=45"> and polyethylene terephthalate (PET) imports were</a> <a title="The Chinese dream: Energy and commodities in an era of change page 46" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=46"> China’s Belt and Road Initiative </a> <a title="The Chinese dream: Energy and commodities in an era of change page 47" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=47"> Whatever the correct interpretation, the ambition</a> <a title="The Chinese dream: Energy and commodities in an era of change page 48" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=48"> China’s Belt and Road Initiative More importa</a> <a title="The Chinese dream: Energy and commodities in an era of change page 49" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=49"> and raise incomes in China’s poorer, western prov</a> <a title="The Chinese dream: Energy and commodities in an era of change page 50" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=50"> China’s commodity exchanges </a> <a title="The Chinese dream: Energy and commodities in an era of change page 51" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=51"> China’s commodity exchanges futures contract </a> <a title="The Chinese dream: Energy and commodities in an era of change page 52" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=52"> China’s commodity exchanges their smartphones</a> <a title="The Chinese dream: Energy and commodities in an era of change page 53" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=53"> China’s commodity exchanges </a> <a title="The Chinese dream: Energy and commodities in an era of change page 54" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=54"> Finance and China’s ‘ecological civilization’ </a> <a title="The Chinese dream: Energy and commodities in an era of change page 55" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=55"> participants, including banks, institutional inve</a> <a title="The Chinese dream: Energy and commodities in an era of change page 56" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=56"> Finance and China’s ‘ecological civilization’ </a> <a title="The Chinese dream: Energy and commodities in an era of change page 57" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=57"> Finance and China’s ‘ecological civilization’ </a> <a title="The Chinese dream: Energy and commodities in an era of change page 58" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=58"> Add Insight In a world that’s increasingly comp</a> <a title="The Chinese dream: Energy and commodities in an era of change page 59" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=59"> Notes </a> <a title="The Chinese dream: Energy and commodities in an era of change page 60" href="https://secure.viewer.zmags.com/publication/fd6eaeea?page=60"> www.platts.com | support@platts.com Category Left</a>