State Grid Corp. of China, the behemoth that transmits and supplies nearly 90% of the country’s electricity, recorded an 81% year-on-year plunge in first-half profit, reported Caixin. The power utility’s first-half net profit nosedived to RMB 5.66 billion ($811 million), although its revenue dipped just 4.7% year-on-year to RMB 1.2 trillion, according to company chair […]
Category: Energy & Environment
China is a step closer to reducing its dependency on the imported helium it uses to make hi-tech products, according to scientists working at a new facility in the northwest of the country, reported the South China Morning Post. Nearly all helium used in China – whether to pump fuel for its huge Long March-5 rocket, […]
China is almost out of space to hold the oil that domestic traders bought at bargain-basement prices earlier this year when the Covid-19 pandemic crushed global crude demand, reported Caixin. As of Wednesday, China had used up 69% of its crude oil storage capacity with the 33.4 million tons it had stockpiled, up by 24% […]
China will end all imports of solid waste from next year, the environment ministry said on Tuesday. The ban rounds off years of tightening curbs on imported trash after spending decades as the world’s largest processor of recyclables, reported Caixin. The move is “a landmark decision in the construction of China’s ecological civilization,” Ministry of […]
Former UK Prime Minister David Cameron is pushing ahead with a troubled scheme to raise a $1 billion China investment fund despite a hardening of the British government’s stance against Beijing, reported the Financial Times. Named the UK-China Fund, the private sector initiative is intended to seek partnership opportunities between the two countries in technology, […]