Core Points - China has announced a new round of Nationally Determined Contributions (NDCs) aimed at reducing greenhouse gas emissions by 7%-10% from peak levels by 2035, marking a significant step in its climate governance journey [1][4] - The new NDCs include ambitious targets such as non-fossil energy consumption accounting for over 30% of total energy consumption, and a sixfold increase in installed capacity for wind and solar power compared to 2020 levels, aiming for 360 million kilowatts [1][3] - The NDCs represent a comprehensive approach to climate change, covering all sectors including energy, industry, transportation, and agriculture, and for the first time, include non-CO2 greenhouse gases in total emissions control [3][4] Summary by Sections Climate Governance Strategy - The new NDCs are seen as a systematic framework for addressing climate change, integrating energy and industrial transformation, and policy innovation [2] - This initiative is expected to contribute positively to the long-term goals of the Paris Agreement, showcasing China's commitment to global climate governance [2][4] Economic and Environmental Impact - By 2035, China's net greenhouse gas emissions are projected to decrease by over 1 billion tons of CO2 equivalent, surpassing the combined absolute reductions of the US and Europe post-peak [3] - The implementation of these NDCs is anticipated to reshape industrial structures and stimulate innovation in policy, market, and technology [3] International Cooperation and Challenges - The announcement comes amid global challenges in climate governance, with rising concerns and declining confidence in international cooperation [2] - Achieving the 2035 targets will require significant efforts and a stable international environment, including fair trade and reliable supply chains [4]