China will need investment in power and transport estimated at $14tn to hit Beijing’s goal of net zero emissions by 2060, according to a World Bank report, as the ruling party congress this week reinforced a commitment to a “green energy revolution”.

The Chinese decarbonisation plan would need to decouple economic growth and emissions at a faster pace and at a lower income level than in advanced economies, the bank warned, as it made the “significant investments in a massive green infrastructure and technology scale up”.

But China could also leverage some advantages, said the World Bank, such as its position at the forefront of advancing low carbon technologies. China is already home to one-third of the world’s installed wind power and a quarter of its solar capacity.