Research on energy consumption and economic growth in Henan Province (China) based on sustainable development

Abstract

Henan Province is a major economic province of China with significant aggregate energy consumption. In the context of studying the problems of factors and elements of sustainable economic development, the author sets the task of researching the relationship between energy consumption and economic growth. Using data from 2001-2021 and Stata 15 software, it can be studied that the gross regional product (GRP) of Henan province has relatively low energy-intensive nature, since for each percentage point of increase in energy consumption, GRP increases by about 4.12 percentage points. However, electricity production is based on an expensive and limited resource, and environmental pollution occurs. Therefore, the challenge for managing the sustainable development of Henan Province is to increase its GRP while reducing energy consumption. In the process of sustainable development of Henan Province, the author recommends stepping up research and development, developing new energy-saving technologies; increase the share of clean energy use, optimize the structure of energy consumption, increase public awareness of the need for energy saving.