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China is signaling a major shift in its energy policy as it drastically reduces the approval of new coal power plants. Recent reports indicate that the number of coal plant projects authorized has plunged, reflecting the country's growing commitment to transitioning towards cleaner energy sources. This policy pivot comes in response to both domestic and international pressure to address climate change and reduce greenhouse gas emissions.
The dramatic decrease in coal plant approvals is part of China's broader strategy to balance economic growth with environmental sustainability. The country is increasingly focusing on expanding its renewable energy capacity, including investments in wind, solar, and hydroelectric power. This move aligns with China's goal to peak carbon emissions before 2030 and achieve carbon neutrality by 2060.
The reduction in coal plant approvals is expected to influence global energy markets and supply chains, as China is one of the world’s largest consumers of coal. It also reflects a significant shift in the country's energy priorities, marking a decisive step towards reducing its reliance on fossil fuels and enhancing its environmental credentials on the global stage.
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