The volume of Chinese loans to the public sector in Africa is large but surprisingly decreasing. New data provide insights on the scale and terms around this massive lending portfolio but raise questions around transparency, access, and voice on Africa-China relations.
The volume of Chinese loans to the public sector in Africa is large but surprisingly decreasing. New data provide insights on the scale and terms around this massive lending portfolio but raise questions around transparency, access, and voice on Africa-China relations.
In the meantime, policymakers are making clear that economic growth remains a top priority and that growth depends largely on coal power. Beijing has a GDP target of 6% this year, a level which analysts say would allow authorities to tackle long-term problems such as the country s high debt levels. China s energy structure is dominated by coal power. This is an objective reality, said Su Wei, deputy secretary-general of the National Development and Reform Commission. CNBC translated his Mandarin-language comments, which he made late last week following Xi s separate remarks at a U.S.-led global leaders climate summit. Because renewable energy (sources such as) wind and solar power are intermittent and unstable, we must rely on a stable power source, Su said. We have no other choice. For a period of time, we may need to use coal power as a point of flexible adjustment.
In the meantime, policymakers are making clear that economic growth remains a top priority and that growth depends largely on coal power. Beijing has a GDP target of 6% this year, a level which analysts say would allow authorities to tackle long-term problems such as the country s high debt levels. China s energy structure is dominated by coal power. This is an objective reality, said Su Wei, deputy secretary-general of the National Development and Reform Commission. CNBC translated his Mandarin-language comments, which he made late last week following Xi s separate remarks at a U.S.-led global leaders climate summit. Because renewable energy (sources such as) wind and solar power are intermittent and unstable, we must rely on a stable power source, Su said. We have no other choice. For a period of time, we may need to use coal power as a point of flexible adjustment.
China has no other choice but to rely on coal power for now, official says CNBC 2 hrs ago Evelyn Cheng
President Xi Jinping announced in September the country s carbon emissions would begin to decline by 2030, and reach carbon neutrality by 2060 in four decades.
In the meantime, policymakers are making clear that economic growth remains a top priority and that growth depends largely on coal power. Because renewable energy (sources such as) wind and solar power are intermittent and unstable, we must rely on a stable power source, said Su Wei, Deputy Secretary-General of the National Development and Reform Commission. We have no other choice. For a period of time, we may need to use coal power as a point of flexible adjustment.