Climate change has reached the apex of the global agenda at a time when China faces significant development and energy security challenges. The political leadership and leading intellectuals are debating the direction of a new development pathway that provides both growth to meet development objectives, and dramatically reduces energy intensity and pollution. While the official position has not changed significantly, there are four key aspects that illustrate how climate change is conceived by the Chinese leadership. This signals that China may come to play a much more important role in global mitigation of climate change than was thought only a couple of years ago.