Abstract: As the core legal framework of the international energy governance system, the Energy Charter Treaty (ECT) provides crucial legal safeguards for promoting international investment and trade in the energy sector. However, due to recent climate change and the global energy transition, a widespread "wave of withdrawals" has emerged from the ECT. Many member states have begun questioning the treaty’s applicability and effectiveness in contemporary international energy governance. To address these concerns, the Energy Charter Secretariat has initiated modernization reforms, aiming to restore international trust by refining the ECT text. Nevertheless, the outcome of this institutional transformation remains highly uncertain. Facing the crisis of withdrawals, China should carefully consider acceding to the ECT, actively participate in international energy governance cooperation and improve domestic energy legislation to safeguard national energy security.