China's rapid advancements in renewable energy technology and manufacturing are pivotal for global energy transition, said Puah Kok Keong, chief executive of the Energy Market Authority of Singapore.

"China has made significant progress in renewable energy development in recent years, deploying technology at scale and driving down costs. China's advancements in solar photovoltaic (PV) deployment and solar and battery energy storage manufacturing provide technological solutions that are reliable and cost-competitive domestically and abroad," Puah said.

China's National Energy Administration said that the country's new energy sector has developed a robust and internationally competitive industry chain. It now produces over 80 percent of the world's photovoltaic modules and 70 percent of its wind power equipment.

Significantly, China has driven down the average electricity generation costs for global wind and photovoltaic power projects by more than 60 percent and 80 percent, respectively, over the last decade.

Puah sees tangible opportunities for Chinese expertise and investment to support East Asia's renewable energy development. He highlighted the interest of Chinese companies in "setting up manufacturing plants in various parts of Southeast Asia, including Singapore."

"Singapore generates about 95 percent of our electricity from natural gas. In order to achieve net-zero by 2050, Singapore is scaling up solar deployment and working with ASEAN countries on the ASEAN Power Grid and regional power grid interconnections," Puah added.

Singapore has achieved its 2025 target of 1.5 gigawatt-peak (GWp) ahead of schedule and is on track to achieve at least 2 GWp by 2030. However, solar deployment in Singapore faces several challenges, including weather-related intermittency due to cloud cover and rainfall, limited generation during daylight hours, and land constraints for solar installations.

Global gas demand, particularly in Asia, continues to surge. The International Energy Agency reported a record 2.7 percent increase in 2024, with emerging Asian markets driving 40 percent of this growth. China dominates liquefied natural gas (LNG) imports, taking in over 75 million tons per annum – nearly 60 percent of global imports, as highlighted in the Shell LNG Outlook 2025.