2021-11-19 11:45:00
CHINA CLEAN COAL SUPPORT $31 BLN
REUTERS - Nov 17 - China will establish a special relending facility worth 200 billion yuan ($31.35 billion) to support the clean use of coal, state broadcaster CCTV quoted the country's cabinet as saying on Wednesday.
The plan comes after China, the world's biggest producer and consumer of the fuel, earlier this week rejected criticism that it helped weaken language on phasing out coal at the COP26 climate conference in Glasgow, saying it had already made "enormous efforts" to reduce coal consumption.
The relending facility will be used to promote clean and efficient processing of coal, CCTV said. It did not specify what that would involve, but such processing could include washing to remove toxic pollutants and impurities.
The facility is also aimed at promoting safe, efficient, green and smart coal mining, as well as development and use of coalbed methane, an unconventional form of natural gas found in coal deposits, CCTV reported in an evening newscast.
The cabinet, or State Council, said the loans would be in addition to a lending tool rolled out by the central bank this month to support efforts to cut carbon emissions, CCTV said.
The People's Bank of China said on Nov. 8 it would provide financial institutions with low-cost loans to help firms cut emissions, supporting the country's long-term carbon neutrality goals.
Coal, a major contributor to carbon emissions, accounted for 56.8% of China's primary energy consumption in 2020, down from around 68% a decade earlier.
President Xi Jinping in September said China would stop building new coal-fired power projects overseas, but authorities have ordered a ramp-up in domestic output of the fossil fuel in recent weeks to ease electricity shortages.
In April, Xi said China would start phasing down coal use from 2026.
($1 = 6.3792 Chinese yuan renminbi)
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Earlier:
2021, November, 15, 11:50:00
CHINA COAL PRODUCTION UP
China has approved expansions at more than 153 coal mines, which could add 55 million tonnes of coal output in the fourth quarter, the National Development and Reform Commission (NDRC) said last month.
2021, November, 3, 12:00:00
CHINA COAL PRICES DOWN
A slew of cooling measures announced by China has led the futures prices plunging more than 53% since its high of 1,982 yuan on Oct 19.
2021, November, 2, 13:40:00
CHINA CLIMATE TARGETS UP
Coal (including lignite) still dominates the energy mix with 60% in 2020, but its share is decreasing rapidly (-11% points since 2010).
2021, October, 29, 13:50:00
CHINA CLIMATE TARGETS
China stated that it aims to peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060.
2021, October, 19, 12:30:00
CHINA NEED COAL, GAS
Temperatures have dropped sharply in many parts of northeast and northwest China, state media said. In Heilongjiang, all heating systems have been opened, and heating companies in Harbin city began supplying heat 4 days earlier than normal, Yulin in Shaanxi province is 10 days ahead of schedule, and Datong in Shanxi province started 13 days earlier than previous years.
2021, September, 17, 11:55:00
CHINA NEED COAL
China is expected to see a wide deficit for met coal supply in 2021
2021, September, 8, 10:15:00
CHINA'S COAL DOWN
Coal from Australia remains unavailable for China after an unofficial ban in the fourth quarter of 2020, while another major supplier Mongolia is facing issues as renewed concerns over COVID-19 impacts transportation.
