Energy Insider: China’s Coal Production on the Rise as NDRC Calls for Market Approaches to Reduce Pollution
In today’s Caixin energy news wrap: China’s state power infrastructure builder reports surging sales despite shrinking overseas deals; NDRC approves green technology exchange in Zhenjiang and calls for market mechanisms to reduce pollution, while the country’s coal production rises.
Coal production rises 11.1% in first four months
China produced 1.294 billion tons of raw coal from January to April, up 11.1% from the same period last year, according to data released Monday by the National Bureau of Statistics. In April, the country’s coal production totaled 322.22 million tons, down 1.8% year-on-year but up 4% from the same time in 2019. China imported 90.13 million tons of coal, down 28.8% year-on-year.
EVE Energy invests $73 million in battery material joint venture
A unit of EVE Energy (300014.SZ) plans to invest 469 million yuan ($72.8 million) to take a 24% stake in a subsidiary of BTR (Jiangsu) New Material Technology Ltd., the Shenzhen-listed company said. EVE plans to form a joint venture to produce high-nickel ternary cathode materials for use in lithium batteries. The deal is part of a share placement by Changzhou BTR New Material Technology Ltd., which will increase the company’s registered capital from 5 million yuan to 1.95 billion yuan. Changzhou BTR’s parent will invest 997 million yuan for 51% of the stake, along with SK innovation Co., which will take the remaining 25% with a 489 million yuan investment. The joint venture will build production facilities with designed annual capacity of 50,000 tons.
PowerChina reports 40% rise in contract sales in January – April
Power Construction Corp. of China Ltd. (601669.SH), a state-owned electricity infrastructure builder, said contracts signed from January through April amount to 270 billion yuan ($41.9 billion), up 41.85% from the same period a year ago. About 216 billion yuan of contracts were made domestically, up 64.85%, while overseas deals declined 8.79%.
China to launch green technology exchange in Zhejiang
The National Development and Reform Commission (NDRC), China’s top economic planner, approved the establishment of the National Green Technology Exchange Center in Zhejiang. To be built on the basis of the Innovative and Entrepreneurial Center of State Grid Zhejiang Electric Power Co. Ltd., the new entity will focus on energy conservation and environmental protection, clean production, clean energy, ecological protection and restoration, green infrastructure in urban and rural areas and ecological agriculture. The Exchange Center will also serve as a platform for technology exchange, R&D, technology application, industrial finance and international cooperation.
NDRC urges local authorities to study emission quota allocation
The NDRC is pushing local authorities to study a quota allocation and compensation system for emissions and pollution in an effort to leverage market-oriented mechanisms to encourage environment protection.
Contact editors Han Wei (email@example.com) and Bob Simison (firstname.lastname@example.org)
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