Caixin
Jun 16, 2021 09:10 AM
CX DAILY

CX Daily: China Pushes Hydrogen Energy to Achieve Carbon Goals

Hydrogen /

Cover Story: China pushes hydrogen energy to achieve carbon goals

As part of Beijing’s carbon reduction goals, China’s traditional fossil fuel giants are racing to take the lead in hydrogen energy, cities are making plans to develop it as a clean power source, and automakers are developing hydrogen-driven vehicles.

Turning one of the most abundant substances in nature into efficient energy has been a dream for decades. Research on hydrogen energy has been up and down amid oil crises, climate change and fluctuations in crude oil prices. In the context of strengthening global pledges and cooperation on carbon reduction, hydrogen energy has become a hot bet for many countries including China.

Elephants /

Wild elephant herd halts advance north as lone male lags behind

A herd of more than a dozen wild Asian elephants migrating north in Southwest China’s Yunnan province has been lingering in a local county for six days, with experts saying they are waiting for a lagging member to return as authorities encourage the herd to turn back.

A young male elephant left the herd Tuesday when others crossed into Yimen county in Yuxi, a city about 90 kilometers (56 miles) south of the provincial capital of Kunming. He then spent three days roaming through the smaller city of Anning before entering a district in Kunming, according to state-run broadcaster CCTV. The elephant is now about 16 kilometers away from the 14 other members of the herd, CCTV reported.

FINANCE & ECONOMY

holiday

People watch the first Yangtze River Three Gorges Dragon Boat Invitational on Monday in the southwestern city of Chongqing. Photo: VCG

Holiday /

Holiday tourism, box office fall short of pre-outbreak levels amid Covid-19 flare-ups

China’s services recovery is still under pressure as tourism and box office sales during the Dragon Boat Festival holiday failed to rebound to pre-Covid-19 pandemic levels, official data show, and the hospitality sector in southern China was hit by pandemic flare-ups.

Compared with the same holiday period pre-pandemic in 2019, domestic tourism sales revenue was 74.8% and the box office rang up 59% of equivalent revenue.

Tourists made 89.1 million domestic trips during from Saturday to Monday, equivalent to 98.7% of the pre-pandemic level, according to (link in Chinese) the Ministry of Culture and Tourism.

G-7 /

China slams G-7 statement as ‘deliberate slandering’ of the country

The Chinese embassy in the U.K. Monday criticized a statement by the leaders of the Group of Seven (G-7) for the “deliberate slandering” of China, accusing the countries’ leaders of “gross interference” in its internal affairs.

The joint statement, issued by the leaders of the G-7, a club of the world’s seven top industrialized nations, during their summit in the U.K. Saturday, criticized, among other issues, China’s conduct in Xinjiang and Hong Kong, and expressed concerns over the situation in the Taiwan Strait.

Related: China warns NATO it won’t ‘sit back’ if challenged by the bloc

China-U.S. /

Top China, U.S. diplomats stress dialogue in phone call

Top Chinese diplomat Yang Jiechi held a phone conversation with U.S. Secretary of State Antony Blinken Friday in another high-level exchange between the countries.

Yang, a member of the Political Bureau of the Communist Party of China Central Committee and director of the Office of the Central Commission for Foreign Affairs, stressed dialogue and cooperation in bilateral relations.

Covid-19 /

Guangzhou eases Covid-19 curbs as flare-up subsides

The southern Chinese city of Guangzhou lifted lockdowns in 11 areas of five districts as the spread of Covid-19 eases in the city.

The 11 areas are located in the districts of Haizhu, Tianhe, Baiyun, Huangpu and Panyu and meet conditions for lifting the lockdown restrictions, said Chen Bin, deputy director of the city’s health commission.

Quick hits /

China’s digital yuan wallets are ‘inclusive,’ PBOC official says

Briefing: What China’s financial regulators told us at the Lujiazui Forum

Editorial: How to break local governments’ addiction to land sales revenue

BUSINESS & TECH

1

Production squeezes at battery manufacturers are underpinned by shortfalls of certain upstream materials. Photo: Svolt Energy

Batteries /

Shortages in electric-vehicle battery industry play havoc with cell prices, executive says

The ongoing supply squeeze in the electric-vehicle (EV) battery sector is making cell prices less predictable, the head of a major Chinese battery manufacturer said, raising doubts about the EV industry’s short-term competitiveness with conventional fuel-powered vehicles.

Yang Hongxin, the president of SVolt Energy Technology Co. Ltd., said at an industry forum that only 60% to 80% of orders for high-quality batteries were currently being met amid supply shortfalls that took root last year due to a lack of certain raw materials.

The global EV industry is battling a scarcity of the batteries that power electric cars and the microchips that run their systems. Both issues owe much to production shortages due to the Covid-19 pandemic.

Marine /

Australian science agency nixes tie-up with Chinese lab over submarine warfare concerns

Australia’s national science agency decided to end its research partnership with a top Chinese lab next year following a warning that the tie-up could impact the country’s national security, according to Australian media.

The Commonwealth Scientific and Industrial Research Organization (CSIRO) won’t renew its research partnership with the Qingdao National Laboratory for Marine Science and Technology after its five-year term ends in June 2022, The Australian newspaper reported late last week.

Disaster /

Gas explosion leaves at least 25 dead and dozens critically injured in central China

At least 25 people died after a gas pipe exploded at a residential community food market in Central China’s Hubei province, leaving dozens buried in the debris, according to Chinese media and local government statements. At least 138 more were injured.

The blast, which occurred around 6:30 a.m. Sunday in the city of Shiyan, caused the market in the Yanhu community to collapse, leaving many residents and vendors trapped underground, local authorities said.

The cause of the blast remains under investigation, local authorities said.

Pangolin /

Pharma firm boss, staff jailed for trading pangolin scales

A Beijing court sentenced a pharmaceutical company owner to 12 years jail and handed jail terms of two to seven years to six employees for illegally trading in pangolin scales and other wildlife products.

The verdict was handed down May 21 by Beijing Xicheng District Court to Chen Xiangyin, of Beijing Sanhe Pharmaceutical Co. Ltd., and his employees. In addition to the prison terms, the company was fined 2 million yuan ($312,500), and Chen was fined 120,000 yuan.

Quick hits /

South China nuclear plant rebuts leak reports

Fosun expects to start China production of BioNTech shot in August

LinkDoc IPO taps China’s growing demand for specialized medical services

Energy Insider /

Energy Insider: 13 miners trapped in Shanxi mining disaster; regulators scrutinize commodity hoarding

Thanks for reading. If you haven't already, click here to subscribe.

Today's CX Daily was compiled and edited by Kevin Guo (xinguo@caixin.com).

Share this article
Open WeChat and scan the QR code