China and Climate: January 2026
Other American allies made the trip too. South Korean President Lee Jay-myung traveled to China, signing a number of agreements to strengthen areas of cooperation between the two countries, including on climate and energy. Also making the journey to Beijing in January were Irish Taoiseach Micheál Martin and Finnish Prime Minister Petteri Orpo, and both leaders’ visits included their respective countries’ interest in deepening clean energy cooperation. The opportunity for clean energy investment is one element of the diplomatic pull toward China, or wedge driving countries away from the United States, depending on one’s point of view.
Regardless of the framing, underlying China’s diplomatic engagement is its dominant status in the global clean energy market. China’s EV exports surged in 2025, reaching 150 countries and territories with 2.6 million units and generating a record $69.6 billion, according to Reuters. And Chinese clean energy exports, such as solar panel equipment, also hit new records in 2025. Clean energy is increasingly embedded in China’s global engagement, becoming a feature of the country’s strategic position as a ballast against international tumult.
Chinese Oil Firms Show Concerns After U.S. Actions in Venezuela
Following the Trump administration’s removal of Maduro and subsequent seizure of Venezuelan oil assets, public attention turned to China, as its oil firms assessed risks and sought to protect their investments.
China joined other nations in criticizing U.S. intervention, while its oil majors voiced concerns over their investments. The companies sought advice from government agencies on protecting their claims to oil reserves and limiting their investment risks. Although Chinese firms have dramatically reduced their investments in Venezuela since Maduro’s rise to power, their stakes remain significant, with Venezuela still owing billions of dollars.
China became a major partner for Venezuela in 2007 under former Venezuelan President Hugo Chávez. Experts estimate that, between 2007 and 2015, China lent close to $60 billion to Venezuela for infrastructure and energy projects. But trade between the two countries peaked in 2012; by 2025, Chinese imports from Venezuela had fallen to just 8 percent of that level.
Nonetheless, China remains the largest purchaser of Venezuelan crude oil and its biggest creditor. In addition, China is the largest importer of crude oil globally, and 20 percent of those imports come from countries under sanctions from the United States. Although crude oil from Venezuela only accounted for 4 percent of China’s imports in 2025, the U.S. administration’s actions could signal further instability in Chinese crude oil imports moving forward.