Report: Energy costs to hit $5.7 trillion

IEA expects heavy spending to make transportation sector more efficient

China could invest as much as $5.7 trillion by 2035 to find, produce and save energy, accounting for 15 percent of global spending in the sector, a report from the International Energy Agency said on Thursday.

Fatih Birol, chief economist of the Paris-based IEA, told a workshop on the report in Beijing that China has made "outstanding efforts" to increase energy efficiency and reduce coal use to meet global climate targets.