China Cementing Global Dominance of Renewable Energy and Technology

[tranquilium]

Anything we dig out from ground and burn is fossil fuel. That is pure addition into carbon dioxide content in atmosphere.

True. Though you have to remember, the main target right now is reducing the PM2.5 emission. Ethanol burning is a cleaner process than gasoline and a lot more clean than coal. (Of course, the coal-ethanol conversion process is another story. Unfortunately I am not familiar with it.)

It is not meant to be replacement for fossil fuel (because it is not), but it is cleaner for the environment.

 

[TaiShang]

For mobile payment providers of China, I think it is important to ensure localization. Relying on outbound tourists makes sense initially, but to get the locals download your application is the most important for sustainability.

 

[onebyone]

China is now the world’s largest solar power producer
Lulu Chang
Digital Trends April 5, 2017


china solar energy shanghai panels

As it stands, solar energy represents only one percent of the country’s energy output. But this may soon change as China devotes more and more of its attention towards clean energy. The NEA says that China will seek to add more than 110 gigawatts within the next three years, which could help the nation up the proportion of its renewable energy use to 20 percent by 2030. Today, it stands at 11 percent.

More: Wasted renewable energy a thing of the past as Tesla unveils energy storage center

China’s geography certainly lends itself to large solar energy farms. Last year, Shandong, Xinjiang, and Henan provinces enjoyed the greatest increase in their solar capacity, whereas Xinjiang, Gansu, Qinghai, and Inner Mongolia ended up with the most overall capacity at the end of 2016.

Weaning itself off of fossil fuels will require quite a hefty investment; one that China appears ready to make. As per a Reuters report, the nation will be pouring some 2.5 trillion yuan ($364 billion) into renewable power generation by the end of the decade.

https://www.yahoo.com/news/china-become-world-biggest-producer-032449293.html

 

[TaiShang]

Panic Arises As Chinese Company Plans To Acquire U.S. MoneyGram
By PYMNTS Posted on April 3, 2017

Foreign interference with U.S. organizations or the government is always a concern. Following the 2016 presidential election, this concern has likely only increased its level. As such, when Ant Financial, which is owned in part by the Chinese government, announced its plans in January to acquire U.S.-based money-transfer company MoneyGram for $880 million, significant worries arose.

Specifically, the concerns are around the exposure of millions of Americans’ personal data, including government employees and military.

Several U.S. lawmakers and national security experts have voiced concerns that the Committee on Foreign Investment is ill-equipped to fully assess this acquisition process to fully determine all security weaknesses of the deal.

North Carolina Representative Robert Pittenger voiced his thoughts on the businesses deal: “If the transaction is approved, China would gain direct access to a significant amount of transactional data in MoneyGram’s network. The data would include names, bank account numbers, as well as the location of MoneyGram customers.”

With several MoneyGrams close to U.S. military bases and locations in approximately 200 countries, the U.S. fears this business deal would make the country more prone to foreign espionage and cyberattacks. Many U.S. officials are calling for a more rigorous review process of the deal.

While Ant Financial spokesman, Reze Wong, tried to calm these concerns, the U.S. is still approaching the situation with caution. “They (the Chinese government) are non-controlling stakes, don’t participate in management and don’t have access to things like consumer data,” Wong said.

MoneyGram also shared a statement with POLITICO Magazine to help ensure any concerns were addressed: “We [will] continue to operate as a stand-alone company, and customer information will continue to be encrypted and stored on our IT systems in Minneapolis in accordance with all applicable data protection requirements.”

It’s likely this deal will take several more months of investigations and probing before it moves forward.

http://www.pymnts.com/news/partners...uire-u-s-moneygram-ant-financial-acquisition/


Chinese grab for U.S. money transfer giant sets off alarms
The purchase by Ant Financial, which is partially owned by the Chinese government, poses a test for the Treasury Department oversight body.
By Bryan Bender 04/01/17 07:11 AM EDT

View attachment 388801
'If the transaction is approved, China would gain direct access to a significant amount of transactional data in MoneyGram’s network,' warns Rep. Robert Pittenger. | Getty

A Chinese company’s plans to acquire U.S. money transfer giant MoneyGram is raising fears that the communist government in Beijing could gain sensitive intelligence on Americans’ personal and financial information — including data on thousands of government employees and military personnel.

The purchase by Ant Financial, which is partially owned by the Chinese government, also poses a test for the 42-year-old Treasury Department oversight body that has been asked to review the deal to determine any security risks.

Lawmakers, national security experts and veterans of the review process say the Committee on Foreign Investment in the United States is ill-designed to assess all the national security implications of international mergers in the age of information — including the often-blurry picture of who actually controls foreign firms or who has access to an international company’s sensitive data.

Moreover, they say, it is severely understaffed to handle the rising number of complicated cases and lacks the authority to address evolving threats in telecommunications, media, agriculture and other industries.

In the case of Ant Financial’s proposed acquisition of MoneyGram, critics say, the fallout could include exposing personal data on millions of Americans.

CFIUS is expected to complete its review during the next several months.

"If the transaction is approved, China would gain direct access to a significant amount of transactional data in MoneyGram’s network," warns Rep. Robert Pittenger, a North Carolina Republican who serves on the Financial Services Committee and is vice chair of the Task Force on Terrorist Financing. "The data would include names, bank account numbers, as well as the location of MoneyGram customers."

Like other CFIUS critics, Pittenger wants a more rigorous review process to ensure such deals do not make the U.S. more vulnerable to foreign espionage, blackmail or cyberattacks.

Dozens of MoneyGram locations lie inside or within a few miles of some of the largest U.S. military installations, including Fort Bragg, N.C., where soldiers, their families and defense contractors commonly use the company’s money transfer services.

MoneyGram also has locations in about 200 countries. Pittenger told POLITICO he is concerned that the Chinese government could "leverage this personal information to harass dissidents, journalists and human rights activists who dare challenge the Chinese Communist Party.”

Personal data can also fuel a variety of cyberattacks, helping hackers trick these targets into giving up login credentials to sensitive accounts.

The $880 million deal, announced in January, was described by Ant as "a significant milestone." The combination of the two firms, it said, "will provide greater access, security and simplicity for people around the world to remit funds."

The company insists that while Chinese government-owned enterprises, including state-run pension funds, are among Ant Financial's shareholders — making more than 14 percent of the company’s ownership — it remains a privately run business.

"They are non-controlling stakes, don’t participate in management and don’t have access to things like consumer data," said Reze Wong, a company spokesman.

Others intimately familiar with the company's operations also reject the argument that China's leaders could gain access to data held by MoneyGram, which is headquartered in Dallas, Texas.

"You don't really understand China if you think that it has government involvement," said one source with direct knowledge who agreed to speak on the condition he not be identified by name. He said Ant "operates like any other private-sector company in the world," in which shareholders are involved in business operations "only at the macro level."

Moreover, advocates of the acquisition insist that any personal data now maintained on MoneyGram's computer servers in the U.S. will remain so under the deal and will be subject to U.S. regulations.

"We would continue to operate as a stand-alone company" and "customer information will continue to be encrypted and stored on our IT systems in Minneapolis in accordance with all applicable data protection requirements," MoneyGram said in a statement to POLITICO.

http://www.politico.com/story/2017/04/china-money-transfer-treasury-ant-financial-moneygram-236773

So much unfounded fear-mongering. What strategic benefit would Ant Financial have by obtaining transaction records of millions of US people?

If this is really a big concern, MoneyGram can delete all the personal transaction data from their servers before the sell-off.

It is a mere business deal with zero strategic/intelligence value. I think irrationality is an accompanying factor to decline in everything, including decline in quality thought process.

 

[TaiShang]

AliExpress aims to have 1 billion int'l customers
China Daily, April 11, 2017

AliExpress Ltd, a retail site that allows Chinese merchants to sell directly to foreign customers, aims to serve 1 billion users globally within seven years and build a "cyber Silk Road" following the Belt and Road Initiative.

The company, a subsidiary of e-commerce giant Alibaba Group Holding Ltd, had attracted more than 100 million international buyers as of April since its launch in 2010, said Dai Shan, president of Alibaba's business-to-business unit.

The Belt and Road Initiative, which aims to strengthen infrastructure, economic and trade ties in the Eurasian region, will lend AliExpress new momentum to grow its customer base tenfold in less than seven years, said Shen Difan, general manager of AliExpress.

The marketplace is the equivalent of Alibaba's business-to-customer site Tmall, but targets only overseas customers. The achievements highlight Alibaba's potential to challenge Amazon.com Inc and eBay Inc in major markets outside China.

Dai said she hoped the platform could empower more China's small and medium-sized enterprises to seek overseas expansion.

Customers from more than 220 countries and regions have placed orders via the platform, according to the company. The top three countries ranked by total spending are Russia, the United States and Spain.

"Spain wants to make a strong effort with Alibaba and other major e-commerce players in China to bring the Belt and Road Initiative into full play," said Alfonso Noriega Gomez, economic and commercial counselor of the Consulate General of Spain in Shanghai.

It is also aiming for global delivery within 72 hours in the three to five years, leveraging leading algorithm and real-time analysis provided by Cainiao Network Technology Co Ltd, Alibaba's smart logistics network, said Cainiao President Wan Lin.

AliExpress has already found early success in Russia, by offering Chinese products including clothing and car parts at a lower price while boosting its advertising and teaming up with local payment providers. The platform has been the biggest shopping site in the country since 2014, according to researcher TNS.

 

[Shotgunner51]

China’s Wind & Solar Industry Could Replace 300 Million Tonnes Of Coal Per Year By 2030
April 13th, 2017 by Joshua S Hill

A new report published this week has shown that China’s wind and solar PV industries could grow to such a point that they are able to replace fossil fuel energy sources by up to 300 million tonnes of standard coal per year by 2030, clearly demonstrating and confirming China’s rapid transition to a clean energy economy.

Published by Greenpeace East Asia, the new report — Accelerating the Energy Transition: the co-benefits of wind and solar PV power in China — projects the impact of China’s wind and solar PV industry between 2015 and 2030, based on the current state of the country’s renewable energy industry, available technologies, government policies, and the continuing decrease in the cost of energy generation sources.

The report found that, by 2030, wind and solar energy could save 3.6 billion cubic meters of water per year — equivalent to the annual basic needs of 200 million people. Given the growing concern for water resources, this is one of the important co-benefits that sometimes get overlooked when we look at the benefits of renewable energy sources over fossil fuel sources.

Between 2015 and 2030, the report found that China’s wind and solar industries are expected to expand fivefold, and by 2030 are estimated to be worth RMB 1.57 trillion and to comprise 1.1% of the national GDP. Further, in 2030 alone, Greenpeace East Asia predicts that the wind and solar industries will accrue RMB 456 billion in external environmental benefits.

“The potential benefits of wind and solar energy in China are staggering,” said Yuan Ying, Greenpeace East Asia climate and energy campaigner.​

“Not only could China rid itself of fossil energy sources to the tune of 300 million tonnes of standard coal, it could also save enough water to meet the annual basic needs of 200 million people and add billions of dollars to the national economy.”​

“The facts speak for themselves. China must now make sure nothing stands in the way of realising this potential.”​

Co-benefits are some of the most important aspects to begin focusing on, now that renewable energy technologies such as onshore wind and solar PV have proven themselves both economically viable, but highly effective. Creating a scenario in which renewable energy is the undisputed next step will require building a case showing the co-benefits that come from switching. The Greenpeace report, using scenario analysis and quantitative and qualitative analyses to calculate the co-benefits of wind and solar PV, found that when compared to coal-fired power, the external environmental benefits of China’s wind and solar PV amounted to around 0.16 RMB/kWh in 2015. By 2030, this figure is expected to reach 0.3 RMB/kWh.

“Only when we have a thorough understanding of the social and economic benefits wind and solar power can provide, can we really push forward with the energy transition and rid China of its reliance on fossil fuels,” explained former director of the National Center for Climate Change Strategy and International Cooperation, Li Junfeng.​

https://cleantechnica.com/2017/04/1...eplace-300-million-tonnes-coal-per-year-2030/
http://www.greenpeace.org/eastasia/...300-million-tonnes-of-standard-coal-per-year/

 

[Shotgunner51]

China's Green Vehicle Revolution To Reshuffle The Cards For Cobalt
Apr. 12, 2017 12:24 PM ET Sebastien Gandon

Summary

• Green, the keynote in Chinese 13th Five-Year Plan.
• China approves NMC battery technology for green car subsidies.
• Traditionally focused on the LFP chemistry (no cobalt), Chinese battery makers are quickly shifting towards cobalt-rich ternary batteries.
• Chinese companies have been recently gobbling up world supplies and securing access to the largest cobalt reserves in the world.

Introductory Words

Five million New Electric Vehicles ("NEVs") on the road in China by 2020. That is the objective set by the largest clean tech market in the world under the framework of the 13th Five-Year Plan. China is also redirecting subsidy policies towards higher energy density and cobalt-rich EV batteries, which may well have a significant impact on the EV value chain.

CRU, a leading provider of analysis in the mining, metals, and fertilizer markets, expects indeed that over 40% of the world's pure EVs will be sold in China over the next five years. Global demand for critical battery minerals will thus be heavily influenced by changes in the battery mix.

Additionally, a large share of China's EV battery production is meant to be exported to overseas markets. Changes in EV subsidies and battery chemistries for domestic EVs will play a key role in lifting China's total demand for refined cobalt units. CRU estimates that the increasing popularity of ternary cobalt-rich batteries could help triple cobalt demand in China's EV battery manufacturing sector.

Read the full article at https://seekingalpha.com/article/4062008-chinas-green-vehicle-revolution-reshuffle-cards-cobalt

 

[Shotgunner51]

Chinese Energy Giant On Track To Build World's Largest Offshore Wind Farm
Updated: 2017-04-13 11:23:05

State Power Investment Corporation (SPIC), one of the top five power generators in China, is making swift progress in raising its planned 800 megawatts wind power farm off the coast of eastern China's Yancheng, Jiangsu province. Once completed, the farm will eclipse the 630 mW London Array as the world's largest offshore wind farm. It is set to enter full operation in 2018.

SPIC is a global green energy provider with a total installed capacity of 117 gW. It operates in the industries of coal, aluminum, logistics, finance, environmental protection and advanced technology. It maintains a presence in 36 countries and regions, including Australia, Chile, Malta, Japan, Brazil, Turkey and Vietnam.

Read the full article at http://m.chinadaily.com.cn/en/2017-04/13/content_28909941.htm

 

[Shotgunner51]

China's Global Renewable Energy Expansion
January 2017

This report by the Institute for Energy Economics and Financial Analysis (IEEFA) examines 30 corporate case studies to explore China’s rising global leadership in the low-carbon-emission energy industry. The extent of China’s domestic investment in renewables has surpassed all expectations, with the resulting technology development and economies of scale driving down costs to the point where renewables are exceeding grid parity in an increasing number of market segments. In renewables, China is now actively pursuing a “Going Global” strategy, particularly in
conjunction with its “One Belt, One Road” program, which aims for a Pan-Asia development approach; 2015 saw eight foreign investment decisions by Chinese firms exceeding US$1 billion
each and worth a total of US$20bn. In 2016, the total foreign investment in deals exceeding US$1bn each rose 60% year on year (yoy) to US$32bn across eleven transactions by Chinese firms. IEEFA expects this trend to accelerate in 2017. A change in leadership in the U.S. is likely to widen China’s global leadership in industries of the future, building China’s dominance in these sectors in terms of technology, investment, manufacturing and employment.

EXECUTIVE SUMMARY

China is the world leader in domestic investment in renewable energy and associated low-emissions-energy sectors. China invested US$103bn in this sector in 2015, up 17% yoy, according to Bloomberg New Energy Finance (BNEF)—two and half times the amount undertaken by the U.S.

According to the International Energy Agency (IEA), China will install 36% of all global hydro electricity generation capacity from 2015-2021. Similarly, China will install 40% of all worldwide wind energy and 36% of all solar in this same period. Given that the rapidly improving cost competitiveness of renewable energy is driving expansions of renewable energy capacity in an ever-increasing number of countries around the globe—in Europe, India, the Middle East, Latin America, and North America—and given that multibillion-dollar renewable energy tenders are being announced weekly, China is performing no small feat by being responsible for over a third of all investment across the three sectors.

Five of the world’s six largest solar-module manufacturing firms in 2016 are in China. At a time when First Solar of the U.S. has announced it will retrench 25% of its global staff, China National Building Materials (CNBM) is building a US$1.6bn 1.5GW thin-film solar module facility. CNBM clearly seeks to challenge First Solar’s absolute dominance of this subsector. Dow Chemical U.S.’s decision in 2016 to sack 2,500 staff and exit the building-integrated photovoltaic (BIPV) solar manufacturing sector will only assist CNBM’s move.

On the wind front, Goldwind, a Chinese company, overtook Vestas in 2015 to become the largest wind-turbine manufacturer globally. Counting its more domestic-focussed companies, which included United Power, Ming Yang, Envision and CSIC, China owns five of the ten top wind-turbine manufacturing firms.

China’s Tianqi Lithium is the largest lithium ion manufacturer globally following its acquisition of Talison Lithium in 2012 and Galaxy’s Jiangsu processing facility in 2015. It comes as no surprise to see Tianqi spending US$2.5bn in September 2016 to acquire a 25% minority stake in SQM of Chile, the world’s fourth-largest lithium firm. Lithium prices skyrocketed in 2016 as the world recognised electric vehicles (EV) are set to challenge the historic dominance of the global automotive sector by internal-combustion engines. While Tesla attracts Western media attention, its global lithium ion battery and EV leadership is being challenged by two Chinese firms, BYD and CATL.

Chinese leadership and control of the global lithium sector is developing along the lines of the rare-element mining and processing sector, which is now 90% and 72% controlled respectively by Chinese enterprises after the financial collapse of Molycorp US in 2015.

State Grid Corp of China (SGCC) is the world’s largest electricity utility, employing over 1.9 million staff and generating annual sales of US$330bn. In 2012, SGCC set a target for US$50bn of foreign investments by 2020. As of 2015, SGCC had invested US$30bn of that amount, including in three separate multi-billion dollar transactions in Brazil and Pakistan. SGCC made the largest renewable energy and electricity distribution deal of 2016 in the US$13bn acquisition of a controlling stake in Brazil’s CPFL Energia SA. International grid connectivity is a key priority of SGCC.

China Three Gorges Corp (CTGC) commissioned the world’s largest hydro-electric facility at 22.5 gigawatts (GW) in 2012—a project with almost 20 times the Hoover Dam’s 1.35GW capacity. In 2016, CTGC now operates 60GW of electricity capacity. With PowerChina, it dominates global investment and construction of hydro-electric dams.

In 2014, a consortium of industrial partners including EDF, AREVA, China General Nuclear Corporation (CGN) and China National Nuclear Corporation (CNNC) committed to invest in the £16bn Hinkley Point C nuclear power station in the U.K. China is now the world leader in technology control and investment in new installations of nuclear power generation. While nuclear power is neither renewable nor low-cost and fast to implement, this investment illustrates the breadth of China’s export investment focus across the energy system.

China’s alternative energy industry has been developing rapidly, while applications of green-and-smart energy have become the focus of the world. In a series of government development policies for “Going Global” that include “One Belt, One Road”, the “Silk Road Fund,” the “China-Pakistan Economic Corridor,” and the “Bangladesh-China-India-Myanmar (BCIM) Economic Corridor,” international renewable energy investment has become a key focus for China.

Investment and employment of course go together. The IEA’s World Energy Outlook 2016 estimates that China holds 3.5 million of the 8.1 million renewable energy jobs globally.

Chinese institutional investment assets under management rose by 500% from 2005-2015, from US$1.1trillion to US$7.1 trillion. This makes China the second or third-largest institutional investment market globally, and its presence in this space is expected to increase to US$10 trillion by 2020. The fact that only 2% of the current total is invested offshore is a key statistic: If China increases this ratio to 10% by 2020, it would amount to US$1 trillion of new foreign investment.

China has led the development of the Asia Infrastructure and Investment Bank (AIIB) and the New Development Bank. When combined with the US$40bn Silk Road Fund and the foreign investment capacity of the China Import Export Bank, the China Development Bank et al, China is clearly building the financial capacity to drive M&A and to fund follow-up capital expenditure programs required to drive electricity-sector transformations across Asia, Africa and South America.

Read the full 46-pages report at http://ieefa.org/wp-content/uploads...l-Renewable-Energy-Expansion_January-2017.pdf

 

[TaiShang]

State Grid Corp of China (SGCC) is the world’s largest electricity utility, employing over 1.9 million staff and generating annual sales of US$330bn. In 2012, SGCC set a target for US$50bn of foreign investments by 2020. As of 2015, SGCC had invested US$30bn of that amount, including in three separate multi-billion dollar transactions in Brazil and Pakistan. SGCC made the largest renewable energy and electricity distribution deal of 2016 in the US$13bn acquisition of a controlling stake in Brazil’s CPFL Energia SA. International grid connectivity is a key priority of SGCC.

State Grid is now laying an UHV line across the Yellow Sea and, hopefully, the gained experience will be utilized when concrete steps are taken to create a NEA electricity grid, involving Russia, Mongolia, China, South Korea and Japan.

 

[Shotgunner51]

State Grid is now laying an UHV line across the Yellow Sea and, hopefully, the gained experience will be utilized when concrete steps are taken to create a NEA electricity grid, involving Russia, Mongolia, China, South Korea and Japan.

UHV across the Yellow Sea? Between Jiangsu and Shandong over the sea? Awesome! Anyway SGCC is world leader in UHV tech, wish nations in Northeast Asia can come to an agreed plan quickly so that SGCC can get the Asia Super Grid done asap.

https://defence.pk/pdf/threads/the-...together-to-maximize-renewable-energy.459415/

 

[onebyone]

China electricity output from photovoltaic plants rose 80 percent in the first quarter after the world’s biggest solar power market increased installed capacity.

Solar power generation rose to 21.4 billion kilowatt-hours in the three months ended March 31 from a year earlier, the National Energy Administration said Thursday in a statement on its website. China added 7.21 gigawatts of solar power during the period, boosting its total installed capacity to almost 85 gigawatts, the NEA said.

The power-generation increase comes even as more solar plants stand idle because of congested transmission infrastructure. China idled about 2.3 billion kilowatt-hours of solar power in the first quarter, up from 1.9 billion kilowatt-hours a year earlier, according to the NEA data.

Central and eastern China accounted for about 89 percent of new capacity, the NEA said.

— With assistance by Feifei Shen

https://www.bloomberg.com/news/arti...rease-in-solar-power-output-as-capacity-added

 

[AndrewJin]

Not just at home, Chinese products have powered solar plants around the world.

 

[Shotgunner51]

Not just at home, Chinese products have powered solar plants around the world.

Yes, see above post 107, China dominates world's solar equipment manufacturing and exports.

Five of the world’s six largest solar-module manufacturing firms in 2016 are in China.

Check Trina Solar (天合光能), Jinko Solar (晶科能源) or JA Solar (晶澳太阳能) which are among the most advanced:

trinasolar.com/cn/
trinasolar.com/us/index.html
jinkosolar.com/
jasolar.com/​

 

[Shotgunner51]

China Said to Mull 3 Mega Power Firms in $855 Billion Reshuffle
Bloomberg News May 08, 2017 6:30 am ET

(Bloomberg) -- China is considering plans to create three power giants through mergers of eight coal-fired and nuclear generators with combined assets of almost 5.9 trillion yuan ($855 billion), according to people with knowledge of the plan.

The proposal, which is only one option being considered as the government of President Xi Jinping seeks to restructure the state-run power sector, hasn’t been finalized and is subject to change, said the people, who asked not to be identified as the information isn’t public. The mergers are proposed for the unlisted parent companies, not units traded in Hong Kong and Shanghai, the people said.

The three planned power giants would be created through the following combinations:

1. China Huadian Corp. and China Guodian Corp., two of the biggest coal-fired power generators, may merge with China National Nuclear Corp., the second-biggest nuclear power operator in China. The combined company would have 297 gigawatts of capacity and 2.04 trillion yuan in assets, according to data published on company and regulator websites, as well as annual reports.
2. China Datang Corp., one of the five biggest coal-fired generators, may merge with China General Nuclear Power Corp., the largest nuclear power operator, and Shenhua Group Corp., the country’s biggest coal miner, as well as a major rail operator and power producer. The combined company would have 241 gigawatts of capacity and 2.09 trillion yuan in assets.
3. China Huaneng Group, the country’s biggest coal-fired power producer, may merge with State Power Investment Corp., a coal-fired power company that also owns State Nuclear Power Technology Corp., the unit building the country’s Westinghouse-designed AP1000 third-generation nuclear reactors. The combined company would have about 262 gigawatts of capacity and assets of 1.75 trillion yuan.

China Huadian declined to comment, while a spokesman for China Shenhua wasn’t able to respond immediately. The remaining companies didn’t immediately respond to requests for comment sent by phone, fax and email.

Nobody responded to faxed requests for comment sent to the State-owned Asset Supervision and Administration Commission, which regulates state-owned companies; the National Development and Reform Commission, the country’s chief economic planner; and the National Energy Administration.

An industrywide regroup would build on Xi’s efforts to cut industrial overcapacity, accelerate the overhaul of the bloated state-owned sector and reduce the country’s reliance on coal. Utilization at China’s power generation facilities last year averaged 3,785 hours, the lowest since 1964, according to the National Energy Administration.

Reforming the state-owned sector is also key to Xi and Premier Li Keqiang’s goal of rebalancing the $11 trillion economy away from an over-reliance on debt-fueled infrastructure investment and exports to one powered more by services and consumer spending. The country will deepen consolidation of state-owned enterprises this year, Xiao Yaqing, chairman of Sasac said in March.

©2017 Bloomberg L.P.

http://washpost.bloomberg.com/Story?docId=1376-OOR6JM6JTSE901-0PPM3L6SJ7MP8GFCAU9RISQ540