- Energy plan to tackle blackouts and shutdowns
- Liquid salt reactor could provide safe, clean energy
- HNA’s chances after unbundling
- IOC: No foreign visitors to Beijing Winter Games
- German government investigates Xiaomi device
- CATL acquires Millennial Lithium
- Geely plans smartphone production
- Tesla Shanghai overcomes chip shortage
- Beijing blocks Taiwan’s CPTPP bid
- Silk Road countries are heavily indebted to China
- Annette Schavan: “Europe should talk turkey”
- Staff rotation at Morgan Stanley in Asia
Today we are taking a closer look at the pressing problems of the Chinese electric power industry – and possible solutions. In many regions, the lights are currently going out and the assembly lines are at a standstill because coal-fired power production is reaching its climate limits. Christiane Kühl has read the latest report of the International Energy Agency. The report outlines a roadmap for phasing out coal while maintaining energy security. We also look at the opportunities and risks of new reactor technology. The molten salt reactor burns cheap thorium and is considered particularly safe. China has high hopes for the experimental reactor located on the edge of the Gobi Desert.
Back in 2017, China’s government warned against “irrational foreign investments” by its own corporations. At that time, the target was also the tourism group HNA. In Germany alone, the company had taken over Hahn Airport and acquired a stake in German investment Bank Deutsche Bank. In the meantime, irrationality has led to insolvency. But this is not the end of the HNA story, analyses Frank Sieren. The conglomerate has been shattered, but some individual business units appear to be quite viable. This is particularly true for Hainan Airlines, which has earned much praise for its excellent service and safety.
The Tokyo Olympics already seemed somewhat sad due to a lack of spectators. The Covid situation is now forcing Beijing to at least do without foreign guests at the Winter Games; only locals are allowed to enter the venues. Any other approach would be at odds with the strict rules of the past year and a half and would hardly be arrangeable. This marks the end of all comparisons to the cheerful Summer Games of 2008.
In today’s Profile, we look at Annette Schavan, former Minister of Education and now co-chair of the German-Chinese dialogue forum. However, current dialogue without face-to-face meetings is “like swimming without water”, explains the high-profile politician.
Finn Mayer-Kuckuk
Feature
Roadmap to carbon neutrality
Chinese headlines currently speak of energy rationing, production stops, and power outages. These problems are part of the energy transition launched by Beijing, which apparently still experiences some hitches. Together with Chinese scientists, Experts of the International Energy Agency (IEA) have been working to find ways how carbon neutrality can be achieved by 2060.
The horrendous rise in fossil fuels of recent decades must now be followed by an equal expansion of renewable energies for growing power generation, IEA Director General Fatih Birol said on Wednesday at the presentation of China’s energy transition roadmap. The government wants to reach its emissions peak in 2030 and reach carbon neutrality by 2060, which is called the “30/60 target” in China.
The world is urging Beijing to pick up the pace, which the IEA believes is entirely possible. “China has the capability, the economic means, and the political skills to peak earlier – around the mid-2020s,” Birol said.
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