China’s state planner calls for more investment to help support energy transition

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A Wednesday notice issued by the National Development and Reform Commission calls for a 25% increase in investments to upgrade China’s energy equipment from 2023 to 2027

China’s state planner has called for more investment in equipment upgrades to help support the energy transition, saying the market should play a leading role.

The investments will support a program of equipment upgrades and consumer goods trade-ins launched by China’s cabinet in March, the notice said. That program seeks to boost investment and consumption amid a shaky economic recovery. It also calls for financial institutions to increase their support for equipment upgrades and extend more medium– and long-term loans to the manufacturing industry.

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