BEIJING: China is having an eventful month, marked by proliferating power supply disruptions and the debt crisis of the country’s second-largest property developer, Evergrande.Take the energy crisis, which started when a rapid increase in exports – driven by the global recovery – fueled a sharpChina remains dependent on coal for 56.8 per cent of its total electricity supply.
Not surprisingly, the government sprang into action. It ordered a rapid expansion of some coal mines and the reopening of others. It gave utility companies more leeway in setting electricity prices. And it pushed manufacturers to boost energy efficiency and accelerate investment in renewable energy. And if each step of the development is not carefully planned and implemented, this transition could weigh on economic growth.The Evergrande crisis, too, poses serious risks to growth. Over the years, owing to defective corporate governance, the developer expanded at a frantic pace, not only through its real estate investments, but also by diversifying into the electric vehicle industry.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China Evergrande's EV unit shares surge on business shift, Evergrande sinks
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China coal futures fall for a fourth day as govt intervenesBEIJING : China's thermal coal futures fell for a fourth day on Monday, extending losses since last week when they cooled from record highs after Beijing said it would intervene to tame prices.The most-active thermal coal futures on Zhengzhou Commodity Exchange, for delivery in January, tumbled more than
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Beijing marathon postponed as China battles Delta COVID-19 outbreakBEIJING: The Beijing marathon this weekend has been postponed until further notice, organisers said, as China seeks to stamp out a COVID-19 outbreak and return to zero cases ahead of the Winter Olympics. China reported 39 new domestic infections on Monday (Oct 25), in an outbreak spread by a travelling gro
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China studying mechanism to stabilise coal prices over long-run - planning bodySINGAPORE : China's top economic planner, the National Development & Reform Commission, said on Tuesday it is studying a mechanism to stabilise coal prices over the long run.The agency is looking into the costs and profitability of the coal sector in an effort to work out such a mechanism to guide prices
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China to strengthen tax reforms to attain 'common prosperity' - XinhuaBEIJING : China will 'strengthen adjustments' in tax collection to boost revenue and reform the country's income distribution, but in a targeted and accurate way, as part of efforts to achieve long-term 'common prosperity', state-run Xinhua news agency said.China aims to 'divide the pie' by 'reasonably' a
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China to strengthen tax reforms to attain 'common prosperity': ReportBEIJING: China will \u0022strengthen adjustments\u0022 in tax collection to boost revenue and reform the country\u0027s income distribution, but in a targeted and accurate way, as part of efforts to achieve long-term \u0022common prosperity\u0022, state-run Xinhua news agency said. China aims to \u0022divide the pie\u0022 by \u0022reasonably\u0022 ad
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »