China's Gas Sector Lobbies for More Power Plants to Boost Demand
China's natural gas producers are lobbying Beijing to increase the number of power plants that run on the fuel, in a bid to help prop up faltering demand.
The power sector — which currently accounts for 18% of China's gas consumption — is viewed by the industry as a key engine of growth, according to people involved in advising on energy policy. Under the sector's latest proposal, China would build nearly 70 gigawatts of new gas-fired capacity by 2030, an almost 50% increase from 2025's estimated level, they said, asking not to be named as the plan is not public.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
38 minutes ago
- Bloomberg
Soy-Sauce Maker Foshan Haitian Starts Taking Orders for Up to $1.2 Billion Hong Kong IPO
Foshan Haitian Flavouring & Food Co. began taking investor orders for a Hong Kong initial public offering that could raise as much as HK$9.56 billion ($1.2 billion), the latest big listing powering the city's share-sale recovery this year. The Chinese maker of soy sauce and other condiments is offering 263 million shares at HK$35 to HK$36.30 each, according to a listing document Wednesday.
Bloomberg
43 minutes ago
- Bloomberg
China's Bankers Ditch Global Hotel Chains as Travel Budgets Bite
These days, Shanghai-based banker Jason Zhang can no longer stay at the Westin hotel in downtown Beijing's financial district after his company cut its travel budget. Instead, he had to settle for a cheaper domestic hotel chain. To his surprise, the discount in room rate didn't lead to a discount in experience. Yes, the expansive breakfast buffet is gone, but Zhang relishes the local dishes served at the domestic chain Atour. Its pillows and comforters are so popular that many guests buy them after checking out. There's no scramble to pack and leave in the morning as checkout can wait until 6 p.m.
Bloomberg
43 minutes ago
- Bloomberg
Asian Stocks to Track US Gains on Trade Talk Hopes: Markets Wrap
Stocks in Asia are set to follow gains on Wall Street as investors monitor trade discussions between the US and China that Commerce Secretary Howard Lutnick said were 'going really, really well.' Equity futures pointed to advances in Sydney, Tokyo and Hong Kong after the S&P 500 closed 0.6% higher. Tesla Inc. led gains in megacaps. Bonds barely budged after a $58 billion sale of three-year notes, the first in a trio of offerings that will culminate in Thursday's sale of 30-year debt. The dollar saw small moves ahead of a key inflation report, while Bitcoin tested its record high.
