BEIJING:

Chinese President Xi Jinping has called for rapid planning and construction of a new energy system to safeguard the country’s energy security, as the ongoing Middle East conflict continues to disrupt global markets.

Speaking on Monday, Xi emphasised hydropower expansion, ecological protection, and the safe, orderly development of nuclear power, according to state broadcaster CCTV. He stressed coal’s continued role in China’s energy mix.

“The Party Central Committee has gained a profound grasp of global energy development trends and made major decisions by advancing the new energy security strategy in depth,” Xi said, underscoring the Communist Party’s leadership in steering China’s energy policy.

While he did not directly reference the Iran conflict, the remarks come as US and Iranian officials consider a Pakistani-mediated plan to end the five-week-old standoff affecting the Strait of Hormuz.

China is relatively insulated from oil price shocks, with coal accounting for over half of energy consumption and imports via the Strait of Hormuz representing just 5% of total demand. Xi said it remains the foundation of the system even as wind, solar, and low-carbon projects are boosted.

Highlighting low-carbon ambitions, Xi described a “greener, more diversified and resilient new energy system” as essential for economic growth.