❗️China’s official response to EU Carbon tariff #CBAM#OCTT
Exclusive news by Yicai news from the 5 & 7 June WTO trade policy review of the EU 🇪🇺
🇨🇳 delegate: “CBAM is regrettable and fails to comply with UNFCCC, Paris Agreement principles and WTO rules”
Yicai news: “China said such measures would discriminate against imported products and restrict market access, especially for products from”
Yicai news:
“China cited a recent study by the African Climate Foundation that said CBAM would cost African countries $25 billion a year.”
Yicai news:
“China also regretted that EU is increasingly strengthening its defensive economic and trade instruments and noted certain new EU policy instruments could have serious implications for international trade, global supply chains and the WTO”
China says
“ the EU is imposing quantitative restrictions on imports from other members, such as the Critical Raw Materials Act”
The fifteenth review of the trade policies and practices of the European Union takes place on 5 and 7 June 2023.
Late December, some residents in the northern Hebei province are faced with local gas shortages and purchase restrictions. They had to use coal or firewood.
The shortage lasted several weeks and is reportedly resolved in January.
(A quick look at the headline targets, largely in line with previously announced)
As expected, there is NO total energy consumption target in the plan.
Main targets (2021-2025) focus on below:
-Energy supply more secure/robust
-Low carbon transformation
-Energy system efficiency
-Innovation and development
-Service level enhanced
🇨🇳NDRC just released Guidance on Speeding up establishing National Uniform Power Market
This is HUGE news 🎉
2025: preliminary completion 2030: finalizing national power market
Set up national Power Exchange
This new milestone document set out key components of China power market following the Document No.9 in 2015 kicking off the second round of power sector reform