in renewable energy. When it comes to specific technologies such as waste-to-energy, solar and wind power or hydrogen fuel cells, scientists from the U.S. to Europe speak generally of rapid advancement in Chinese renewables, which has helped drive down costs.
He pointed out that China's post-coronavirus infrastructure stimulus plan has been updated to include energy transfer and storage projects. Underdeveloped regulation allowed many companies to borrow and expand too quickly, until Chinese authorities began to tighten restrictions on leverage three years ago, according to Zhu Chunyang, executive director, environmental & public utilities chief analyst at the research and development center at China Merchants Securities.
The company took far longer than others to resume work since some of its operations are in Hubei, the province where the Covid-19 disease first emerged late last year. The disease has since infected more than 6.2 million people and killed more than 375,000 people globally. Shenwu also faces many lawsuits in the wake of the financial strains, according to records accessed through Wind Information. That contrasts with high-profile recognition several years ago by key government ministries as an industry pioneer. Thealso pointed to Shenwu's growth in an article in 2016 describing the value of such "energy service companies ."
With the right incentive, state-owned conglomerates can be quite innovative since they don't need to worry about short-term financial constraints, Zhang said.
Nor citizens. No carbon tax but incentives for businesses that allow you to work from home.
No. But it should be a moral imperative game
CNBC loves China
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