China’s New Coal Push As Relations With West Sour
Bloomberg, 16 June 2020
China’s embrace of coal could tighten even further if tensions with the U.S. escalate, with policymakers prioritising energy security over climate change.
China will likely ease the pressure on local governments to shut older, inefficient coal mines as it seeks to meet rising demand of the most-polluting fuel to spur its economic recovery.
Government officials are in the midst of preparing the country’s all-important five-year-plan, the guiding document for policy and industrial development from 2021 to 2025. Unlike the previous edition, when China made a major push to cut overcapacity to support prices and help miners struggling with mounting debt, the government isn’t likely to set any targets for mine closures, analysts forecast.
But the lack of a hard target now would underscore the continuing dependence on coal in China, which mines and burns half the world’s supply.
Bloomberg, 16 June 2020
China’s embrace of coal could tighten even further if tensions with the U.S. escalate, with policymakers prioritising energy security over climate change.
China will likely ease the pressure on local governments to shut older, inefficient coal mines as it seeks to meet rising demand of the most-polluting fuel to spur its economic recovery.
Government officials are in the midst of preparing the country’s all-important five-year-plan, the guiding document for policy and industrial development from 2021 to 2025. Unlike the previous edition, when China made a major push to cut overcapacity to support prices and help miners struggling with mounting debt, the government isn’t likely to set any targets for mine closures, analysts forecast.
But the lack of a hard target now would underscore the continuing dependence on coal in China, which mines and burns half the world’s supply.
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