China’s energy consumption dropped by the biggest margin in five years in the first two months of 2020, as both the supply and demand sides of the industry were hit by the government’s strict measures to contain the coronavirus epidemic, reported Caixin. Fresh data from the National Development and Reform Commission, the country’s top economic planner, showed […]
Category: Energy & Environment
China will modify the environmental supervision of companies to help the resumption of production disrupted by the coronavirus epidemic, giving firms more time to rectify environmental problems, but stressed it was not relaxing standards, reported Reuters. China has said it will exempt some firms from on-site environmental checks if they are involved in the production of […]
Two of China’s largest power distributors will cut electricity rates for most of their business customers by an average of 5%, in Beijing’s latest move to assist manufacturers struggling under restrictions and other limitations aimed at controlling the Covid-19 outbreak, reported Caixin. The new cuts are effective from Feb. 1 and will run through June […]
Shares of Chinese battery giant Contemporary Amperex Technology (CATL) surged to a record high after the world’s largest electric-vehicle battery maker posted a strong profit estimate for 2019, reported Caixin. The Shenzhen-listed company it expects to report a 20% to 45% increase in profit for 2019, it said Tuesday. Earnings will be RMB 4.06 billion to RMB […]
For the first time, China will this year allow foreign companies to explore for and produce oil and gas in the country, opening up the industry to firms other than state-run energy giants, as Beijing looks to boost domestic energy supplies, reported Reuters. The long-awaited opening accompanies a reshuffle of the so-called “midstream” pipeline business, […]