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China dramatically increases financing for renewable energy. In the coming years, the government will spend 2.7 trillion yuan or $373 billion to build solar and wind power plants. The Chinese authorities are aimed at a radical increase in the share of non-fossil energy sources in the total energy balance. According to the plan of the State Council of China, by 2030, one fifth of China’s energy needs will be provided by clean energy. Now, Brazil is the leader in the use of renewable energy. In the country, 45% of the energy comes from “green” sources. The European Union is in second place, with a 17% share. In China, only 8.9% of energy is produced without the use of fossil fuels. However, the clean energy market in the country is growing at the fastest pace and will grow until 2023. The volume of wind energy in China will increase 2 times in the next five years, and the use of biofuels - 1.5 times.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
The dollar was under pressure on Monday as the escalating U.S.-China tensions weighed on the market, while investors worried that the U.S. coronavirus resurgence could stall economic recovery. The dollar fell to a four-month low on the yen ...
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