China’s pledge to achieve net zero carbon by 2060 represents two-thirds of the c.48% of global emissions from countries that have pledged net zero, and could transform China’s economy, starting with the 14th Five-Year Plan. Goldman Sachs models the country’s potential path to net zero by sector and technology, laying out US$16 tn of clean tech infrastructure investments by 2060 that could create 40 mn net new jobs and drive economic growth.

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