Wind and solar power in the first half of 2024 surpassed coal power in terms of capacity for the first time in Chinese history, the South China Morning Post (SCMP) reports, citing a report by the China Electricity Council (CEC). Thus, the share of wind and solar generation amounted to 38.4% (1180 GW) of the total installed capacity of 3070 GW, while the share of coal fell to 38.1% (1170 GW).
The CEC expects China to add about 300 gigawatts (GW) of solar and wind power to the grid this year, bringing their combined capacity to more than 40% of the total installed capacity of 3,300 GW of all energy sources.
China, which is currently the world’s largest consumer, producer and importer of coal, will reduce its share in the energy balance to 37%, according to the SPP.
According to Rystad Energy analysts, the reason for this change is the growing emphasis on cleaner energy sources and the country’s rejection of fossil fuels. Until 2016, about 50 GW of coal-fired power plants were built annually in the country, but at the same time, China began to make significant investments in renewable energy.
Since 2020, the annual commissioning of wind and solar power plants has consistently exceeded 100 GW, which is three to four times more than the increase in coal capacity. Since then, this momentum has only gained momentum, and last year China set a record by increasing solar and wind power capacity by 293 GW.
The dynamics in coal power, on the contrary, is declining: in 2023, about 40 GW of coal generation was added, and in the first half of 2024, according to Rystad Energy, only 8 GW. “The government has imposed stricter restrictions on new coal projects to meet its carbon reduction targets. Efforts are now focused on phasing out small coal-fired power plants, modernizing existing ones to reduce emissions, and ensuring that new projects meet stricter standards. As a result, the annual gap in capacity expansion between coal and clean energy has increased dramatically, reaching a 16-fold difference in the first half of 2024,” the experts say.
Rystad Energy analysts predict that by 2026, only solar energy will surpass coal as the main source of energy in China. Thus, the total capacity of solar generation will exceed 1.38 terawatts (TW), which is 150 gigawatts (GW) more than coal capacity.
At the same time, clean energy in China faces significant challenges such as low utilization and interruptions as capacity grows. According to Rystad Energy, solving these problems requires significant improvements to the power grid to increase transmission flexibility and storage capacity. Batteries will also be critical to maintaining grid reliability, ensuring that stability is maintained while clean energy expands to meet the needs of a growing population.
CHINA, China aims to peak CO2 emissions by 2030 and achieve carbon neutrality by 2060. As part of this plan, Coal Energy, the share of non-fossil energy consumption should rise to about 25% by 2030. solar energy
Smartphone shipments in China in the second quarter grew by 10% year-on-year to more than 70 million units, according to analyst firm Canalys. For the first time in history, the top five positions in the list of the largest smartphone vendors in China are held by local companies, said Canalys analyst Lucas Zhong.
The market leader was the vivo brand, which increased sales by 15% year-on-year to 13.1 million smartphones and gained a market share of 19%. OPPO took second place with a market share of 16%, despite a 1% decline in sales. HONOR was third (15% of the market, 10.7 million devices sold), Huawei was fourth (also 15%, 10.6 million), and Xiaomi (SPB: 1810) was fifth (14%, 10 million).
The American Apple Inc. sold only 9.7 million smartphones in China last quarter, which dropped it out of the top 5 leading suppliers. Its market share dropped to 14% from 15% in the first quarter and 16% in the second quarter of last year.
According to a preliminary estimate by another research company, International Data Corporation (IDC), smartphone sales in China in April-June increased by 8.9% year-on-year to 71.6 million. According to the company, Apple is also not among the top five leaders in the Chinese market.
Italian Prime Minister Giorgia Meloni is on a visit to China. His goal is to stabilize ties with Beijing before the US presidential election, Bloomberg reports.
The visit will last from July 27 to 31. During this time, she will meet with Chinese President Xi Jinping and Prime Minister Li Keqiang.
According to an anonymous source, during the talks with the Chinese leaders, the prime minister will discuss Russia’s war against Ukraine and the war in the Gaza Strip.
The publication writes that since coming to power in 2022, Meloni has tried to present herself as a diplomat capable of communicating with leaders who adhere to different ideologies, from Hungarian Prime Minister Viktor Orban to German Chancellor Olaf Scholz.
Now, according to another anonymous source, her ambitions have grown to include Xi Jinping in this group.
China intends to increase grain imports from Ukraine and will support the smooth operation of logistics channels, assured Foreign Minister of the People’s Republic of China (PRC) Wang Yi at a meeting with Ukrainian Foreign Minister Dmytro Kuleba.
“In recent years, China has been Ukraine’s largest trading partner and largest exporter of agricultural products. The volume of bilateral trade has shown rapid growth in the first half of this year, demonstrating the space and potential for cooperation between the two countries,” the Chinese Foreign Ministry’s press service quoted him as saying.
The Chinese minister emphasized that both sides should fully realize the role of the cooperation mechanism and strengthen practical cooperation in various fields.
“China will continue to expand grain imports from Ukraine and jointly maintain uninterrupted logistics channels and international food security,” Wang Yi assured.
“Ukraine hopes to jointly implement the important consensus reached by the two heads of state, strengthen political mutual trust, intensify cooperation in various fields such as economy, trade and agriculture, and strengthen exchanges between local sister cities,” the Ukrainian Foreign Minister said.
Kuleba assured that Ukraine highly appreciates China’s positive and constructive role in ensuring peace and maintaining international order. Ukraine also attaches great importance to China’s opinion on the political settlement of the Ukrainian crisis.
Ukraine is willing and ready to engage in dialogue and negotiations with Russia. Of course, the negotiations should be reasonable and substantive, aimed at achieving a just and lasting peace,” the Ukrainian minister summarized.
Ukrainian Foreign Minister Dmytro Kuleba is making the first visit by a Ukrainian official to China since the beginning of Russia’s full-scale aggression against Ukraine.
“Hello to all from China. Following up on the contacts between the leaders of Ukraine Volodymyr Zelensky and China’s Xi Jinping, I am carrying out the first visit of a Ukrainian official to China since the beginning of Russia’s full-scale aggression against Ukraine. This is also the first bilateral visit of the Ukrainian foreign minister to China since 2012,” he said on his Instagram.
He informed that ahead – detailed, substantive talks with his Chinese counterpart Wang Yi on ways to a just peace.
“Must avoid competition of peace plans. It is very important that Kiev and Beijing have a direct dialog and exchange of positions. We will also discuss bilateral relations. I am convinced: after Ukraine started negotiations on accession to the European Union, China should look at relations with our state through the prism of its strategic relations with Europe,” – said Kuleba.
As reported, July 23-25, Kuleba will pay a visit to China at the invitation of Chinese Foreign Minister Wang Yi.
Turkish authorities are set to announce an agreement with Chinese automaker BYD Co. to build a $1 billion company facility in the country, Bloomberg reported.
According to the agency’s sources, Turkish President Recep Tayyip Erdogan will announce it on Monday at a ceremony in Manisa province, where the plant is planned to be built.
The opening of the plant in Turkey could make it easier for BYD, China’s largest electric car maker, to access the European Union market, with which the country has a customs agreement.
The day before, the European Commission imposed additional duties on imports of Chinese electric cars into the EU. For BYD Co. this duty amounts to 17.4%. Previously, the EU already had 10% duties on imports of electric cars from China.
The Turkish market is also of interest to BYD. Last year, cars with electric engines accounted for 7.5% of car sales in Turkey.
On Friday, it became known that the Turkish authorities refused to introduce an additional duty of 40% on imports of Chinese electric cars into the country, which was announced in June. This came after Erdogan’s talks with Chinese President Xi Jinping on the sidelines of the Shanghai Cooperation Organization (SCO) leaders’ meeting in Astana.
