China will focus on maintaining growth under leader Xi Jinping, according to a report by S&P Global Platts, which predicts demand for oil and natural gas will increase despite the country's push into renewable energy sources. The report, released Tuesday, said China's economy is expected to grow at an annual rate of 6.5 percent in 2016, up from 6.9 percent last year. The study also said ties with the US could deepen as China draws on American shale gas, and plans to displace oil with ethanol will still require imports.
China will focus on maintaining growth under leader Xi Jinping, according to a report by S&P Global Platts, which predicts demand for oil and natural gas will increase despite the country's push into renewable energy sources. Even coal could make a comeback, depending on the strength of the economy, it said. The study also said ties with the US could deepen as China draws on American shale gas, and plans to displace oil with ethanol will still require imports.