GOVERNMENT
U.S. Commerce Secretary Gary Locke Visits China
From May 15 to May 25, U.S. Commerce Secretary Gary Locke headed a trade mission to China and Indonesia. 24 U.S. companies joined Secretary Locke in China. The goal of the visit is to promote exports of leading U.S. technologies related to clean energy, energy efficiency, and electric energy storage, transmission and distribution. In Shanghai, Secretary Locke expressed the hope that a clean energy partnership will help both countries’ work force. Challenges exist in fair cooperation, the U.S. export license policy and the Chinese innovation accreditation system. Secretary Locke also delivered speech at Tsinghua University, stating that the U.S. and China should be leaders in the $6 trillion clean energy market. Secretary Locke informed the audience that some restrictions make little sense; therefore, the U.S. government is looking to revise its export control policies, which may encourage the sale of more high technology goods in China.
http://www.chinadaily.com.cn/china/2010-05/13/content_9877128.htm
http://www.chinadaily.com.cn/photo/2010-05/21/content_9880097.htm
http://www.chinadaily.com.cn/cndy/2010-05/22/content_9880306.htm
Second China-U.S. Strategic and Economic Dialogues
U.S. and China agreed to cooperate in developing new energy vehicles, energy-efficient construction and clean coal technology.
http://www.chinadaily.com.cn/china/2010-05/25/content_9892122.htm
http://www.chinadaily.com.cn/bizchina/2010-05/25/content_9889520.htm
“U.S.-China Joint Statement on Energy Security Cooperation” (5-25-10)
The U.S. Department of State issued a press release describing the joint energy security goals of China and U.S. These goals include stabilizing the international energy market by establishing open, transparent, efficient and competitive energy markets, including transparent and effective legal and regulatory frameworks. China and the U.S. will also cooperate in ensuring safe and stable energy supplies and will be discussing quick communication and coordination mechanisms during emergencies. Lastly, the two countries will cooperate in energy conservation and energy efficiency under the “Energy Efficiency Action Plan of the U.S.-China Ten-Year Framework on Energy and Environment Cooperation” through activities such as energy efficiency forums, construction, end use products, auditing, and demo projects.
http://www.state.gov/r/pa/prs/ps/2010/05/142179.htm
Restrictions in Rare Earth Minerals Supply (5-21-10)
In March we discussed the U.S.’s reliance on rare earth minerals imports, such as tungsten, antimony and alumina clay, which are crucial in clean energy such as wind turbines and batteries. China’s plan on a five month crackdown on illegal rare earth mining starting in June, 2010 may have an impact on the supply of rare earth minerals in the U.S. China has been trying to stabilize international pricing by tightening production and exports. In 2009, China reduced output by 8.1%, the fifth year it has imposed such a cut. Nevertheless, Mongolia Baotou Steel Rare-Earth Hi-tech Corp., one of China’s major rare earth producers said that its 2009 net profits declined 70% from 2008. China also plans to appoint local land resources supervisors to receive reports of illegal activity.
http://www.chinadaily.com.cn/cndy/2010-05/21/content_9875373.htm
“Smart grid moves gather momentum” (5-4-10)
China continues to show commitment to the smart grid. The 12th Five-Year Plan (2011-15) will set out strategies for smart grid development. The smart grid projects are expected to encompass power storage, smart power meters, and electric vehicles. As we discussed in February, the leading power grid operator, State Grid Corp of China, already outlined its own plans. State Grid’s project planning includes technical and management standards. It anticipates large scale construction of smart grid projects form 2011 to 2015, creating a comprehensive system by 2020. Smart grid plans in China differ from those in the US in that they focus on power distribution and transmission.
http://www.chinadaily.com.cn/bizchina/2010-05/04/content_9805468.htm
CLIMATE CHANGE
“CDM answer to greenhouse gas emissions, expert says” (5-12-10)
China has been cutting greenhouse gas emissions through Clean Development Mechanism (CDM) projects as defined by the Kyoto Protocol. China can sell the CDM credits to Annex I parties (industrialized countries) so Annex I countries can achieve their emissions limitations and reduction commitments. CDM credits allow industrialized countries to invest in emissions reductions where it is cheapest globally. China’s projects are usually small-scale hydro, industrial energy efficiency, renewable energy and forestry. China is looking at rural household biogas and conservation tillage. Biogas digesters can be used to generate electricity in rural households. Conservation tillage leaves the remains of crops in the soil to reduce the effect of wind and water erosion. It is predicted that if 10% of farmlands in North China employs conservation tillage, the annual reduction of CO2 emissions can be up to 2 million tons.
http://www.chinadaily.com.cn/cndy/2010-05/12/content_9837336.htm
COAL
“Power stations to be closed to reduce emissions” (5-21-10)
National Energy Administration signed agreements with 26 provincial governments (including Jiangsu, Shandong, Guangdong, Henan, Hebei, Jinlin, Sichuan, Fujian, Heilongjian and Shaanixi) to close at least 10 million kW of coal plants. These agreements will count towards the Eleventh Five-Year Plan for 2006 to 2010 to close small scale outdated coal plants. The Administration predicts approximately 4.11 million kW in outdated coal plants will be closed in 2010.
http://www.chinadaily.com.cn/china/2010-05/21/content_9880100.htm
ENERGY TECH BUSINESS
“Nuclear firm plans 2012 IPO” (5-25-10)
State Nuclear Power Technology Corp, responsible for developing third generation nuclear power technology in China, plans to list its shares in the second quarter of 2012. The company will increase its registered capital from 4 billion yuan to 10 billion.
http://www.chinadaily.com.cn/bizchina/2010-05/25/content_9888721.htm
“China’s installed power capacity to reach 900m kW by year end” (5-22-10)
Installed electric generation capacity projected to increase 10% in one year by the end of 2010. China’s generation was 874 million kw at the end of 2009 and it will be more than 900 million by end of 2010.
http://www.chinadaily.com.cn/bizchina/2010-05/22/content_9881388.htm
“PetroChina lines up $60b to boost overseas oil, gas output” (5-21-10)
China develops overseas oil and gas output, including oil sands in Canada
http://www.chinadaily.com.cn/bizchina/2010-05/21/content_9876765.htm
“In 2020: When China Rules the Clean Energy World” (5-20-2010)
In the first quarter of 2010, China was the biggest recipient of clean energy project finance, almost double of the amount invested in the U.S. Because China has less water per capita than the U.S. and less domestic energy supply, China will require better planning and wiser use of its resources in its rapid economic growth. As a major participant in the cleantech market, there will be more outsourced manufactures in China in the rapid growth market phase, more domestic Chinese clean tech startups, and later on more standard setting for the new technology.
http://www.greentechmedia.com/cleantech-investing/post/when-china-rules-the-clean-energy-world/
"CNPC set to buy 35% stake in Shell’s Syria unit" (5-20-10)
China National Petroleum Corporation (CNPC) said on Wednesday that it is acquiring a 35% stake in Royal Dutch Shell’s oil and gas unit in Syria. China continues to expand overseas energy sources to meet domestic demand. The Syria unit has interests in three production licenses covering approximately 40 oil fields. The deal is estimated to be work around $1.5 billion. This is a strategic move that bolsters CNPC’s Middle East Portfolio.
http://www.chinadaily.com.cn/cndy/2010-05/20/content_9870527.htm
“China to buy 7 Brazil transmission firms” (5-19-10)
China’s state controlled State Grid Corp of China will buy 3000 kilometers of transmission lines in Brazil from Plena, controlled by a group of Spanish energy firms.
http://www.chinadaily.com.cn/bizchina/2010-05/19/content_9867687.htm
Chinese company invests in Canadian oil sands (May, 2010)
Canada’s Penn West Energy Trust is getting $985 million investment in oil sands assets from China Investment Corp. In April 2009, another Chinese company, Sinopec, bought ConocoPhilip’s stake for $4.65 billion in the Canadian Syncrude project
http://www.chinadaily.com.cn/bizchina/2010-05/14/content_9850767.htm
http://www.chinadaily.com.cn/bizchina/2010-04/13/content_9721288.htm
Chinese Oil Company Acquire South China Sea Oil Block (5-1-10)
China National Offshore Oil Company Limited has agreed to acquire U.S. based Devon Energy Corporation’s 24.5% interest in a South China Sea oil block for $515 million.
http://www.chinadaily.com.cn/bizchina/2010-05/01/content_9801172.htm
ELECTRIC VEHICLES
“Public transport to help fuel spread of charging network” (5-13-10)
Electric buses are good for establishing a charging network because they have fixed routes. The buses use a batter swap system so that a dead battery can be replaced within 8 minutes. Buses can run 80 kilometers after charging for 4 hours. The buses usually charge batteries twice a day. Right now Beijing has 50 electric buses in operation and plans to add 250 more this year.
Shanghai has set goal of 400 more roadside charging points and seven to 10 large charging stations by the end of 2010.
http://www.chinadaily.com.cn/bizchina/2010-05/13/content_9844157.htm
http://www.chinadaily.com.cn/cndy/2010-05/08/content_9824365.htm
Electric vehicle subsidies (May, 2010)
China hopes to release subsidies to boost demand for small electric cars and vans before June. The State Council, China’s cabinet urged relevant departments to detail the consumer incentives for electric vehicles. The plan should be similar to 2009’s pilot project for public sector buyers where all buyers in certain selected cities can obtain incentives of up to 60,000 yuan.
http://www.chinadaily.com.cn/bizchina/2010-05/07/content_9821318.htm
U.S. Commerce Secretary Gary Locke Visits China
From May 15 to May 25, U.S. Commerce Secretary Gary Locke headed a trade mission to China and Indonesia. 24 U.S. companies joined Secretary Locke in China. The goal of the visit is to promote exports of leading U.S. technologies related to clean energy, energy efficiency, and electric energy storage, transmission and distribution. In Shanghai, Secretary Locke expressed the hope that a clean energy partnership will help both countries’ work force. Challenges exist in fair cooperation, the U.S. export license policy and the Chinese innovation accreditation system. Secretary Locke also delivered speech at Tsinghua University, stating that the U.S. and China should be leaders in the $6 trillion clean energy market. Secretary Locke informed the audience that some restrictions make little sense; therefore, the U.S. government is looking to revise its export control policies, which may encourage the sale of more high technology goods in China.
http://www.chinadaily.com.cn/china/2010-05/13/content_9877128.htm
http://www.chinadaily.com.cn/photo/2010-05/21/content_9880097.htm
http://www.chinadaily.com.cn/cndy/2010-05/22/content_9880306.htm
Second China-U.S. Strategic and Economic Dialogues
U.S. and China agreed to cooperate in developing new energy vehicles, energy-efficient construction and clean coal technology.
http://www.chinadaily.com.cn/china/2010-05/25/content_9892122.htm
http://www.chinadaily.com.cn/bizchina/2010-05/25/content_9889520.htm
“U.S.-China Joint Statement on Energy Security Cooperation” (5-25-10)
The U.S. Department of State issued a press release describing the joint energy security goals of China and U.S. These goals include stabilizing the international energy market by establishing open, transparent, efficient and competitive energy markets, including transparent and effective legal and regulatory frameworks. China and the U.S. will also cooperate in ensuring safe and stable energy supplies and will be discussing quick communication and coordination mechanisms during emergencies. Lastly, the two countries will cooperate in energy conservation and energy efficiency under the “Energy Efficiency Action Plan of the U.S.-China Ten-Year Framework on Energy and Environment Cooperation” through activities such as energy efficiency forums, construction, end use products, auditing, and demo projects.
http://www.state.gov/r/pa/prs/ps/2010/05/142179.htm
Restrictions in Rare Earth Minerals Supply (5-21-10)
In March we discussed the U.S.’s reliance on rare earth minerals imports, such as tungsten, antimony and alumina clay, which are crucial in clean energy such as wind turbines and batteries. China’s plan on a five month crackdown on illegal rare earth mining starting in June, 2010 may have an impact on the supply of rare earth minerals in the U.S. China has been trying to stabilize international pricing by tightening production and exports. In 2009, China reduced output by 8.1%, the fifth year it has imposed such a cut. Nevertheless, Mongolia Baotou Steel Rare-Earth Hi-tech Corp., one of China’s major rare earth producers said that its 2009 net profits declined 70% from 2008. China also plans to appoint local land resources supervisors to receive reports of illegal activity.
http://www.chinadaily.com.cn/cndy/2010-05/21/content_9875373.htm
“Smart grid moves gather momentum” (5-4-10)
China continues to show commitment to the smart grid. The 12th Five-Year Plan (2011-15) will set out strategies for smart grid development. The smart grid projects are expected to encompass power storage, smart power meters, and electric vehicles. As we discussed in February, the leading power grid operator, State Grid Corp of China, already outlined its own plans. State Grid’s project planning includes technical and management standards. It anticipates large scale construction of smart grid projects form 2011 to 2015, creating a comprehensive system by 2020. Smart grid plans in China differ from those in the US in that they focus on power distribution and transmission.
http://www.chinadaily.com.cn/bizchina/2010-05/04/content_9805468.htm
CLIMATE CHANGE
“CDM answer to greenhouse gas emissions, expert says” (5-12-10)
China has been cutting greenhouse gas emissions through Clean Development Mechanism (CDM) projects as defined by the Kyoto Protocol. China can sell the CDM credits to Annex I parties (industrialized countries) so Annex I countries can achieve their emissions limitations and reduction commitments. CDM credits allow industrialized countries to invest in emissions reductions where it is cheapest globally. China’s projects are usually small-scale hydro, industrial energy efficiency, renewable energy and forestry. China is looking at rural household biogas and conservation tillage. Biogas digesters can be used to generate electricity in rural households. Conservation tillage leaves the remains of crops in the soil to reduce the effect of wind and water erosion. It is predicted that if 10% of farmlands in North China employs conservation tillage, the annual reduction of CO2 emissions can be up to 2 million tons.
http://www.chinadaily.com.cn/cndy/2010-05/12/content_9837336.htm
COAL
“Power stations to be closed to reduce emissions” (5-21-10)
National Energy Administration signed agreements with 26 provincial governments (including Jiangsu, Shandong, Guangdong, Henan, Hebei, Jinlin, Sichuan, Fujian, Heilongjian and Shaanixi) to close at least 10 million kW of coal plants. These agreements will count towards the Eleventh Five-Year Plan for 2006 to 2010 to close small scale outdated coal plants. The Administration predicts approximately 4.11 million kW in outdated coal plants will be closed in 2010.
http://www.chinadaily.com.cn/china/2010-05/21/content_9880100.htm
ENERGY TECH BUSINESS
“Nuclear firm plans 2012 IPO” (5-25-10)
State Nuclear Power Technology Corp, responsible for developing third generation nuclear power technology in China, plans to list its shares in the second quarter of 2012. The company will increase its registered capital from 4 billion yuan to 10 billion.
http://www.chinadaily.com.cn/bizchina/2010-05/25/content_9888721.htm
“China’s installed power capacity to reach 900m kW by year end” (5-22-10)
Installed electric generation capacity projected to increase 10% in one year by the end of 2010. China’s generation was 874 million kw at the end of 2009 and it will be more than 900 million by end of 2010.
http://www.chinadaily.com.cn/bizchina/2010-05/22/content_9881388.htm
“PetroChina lines up $60b to boost overseas oil, gas output” (5-21-10)
China develops overseas oil and gas output, including oil sands in Canada
http://www.chinadaily.com.cn/bizchina/2010-05/21/content_9876765.htm
“In 2020: When China Rules the Clean Energy World” (5-20-2010)
In the first quarter of 2010, China was the biggest recipient of clean energy project finance, almost double of the amount invested in the U.S. Because China has less water per capita than the U.S. and less domestic energy supply, China will require better planning and wiser use of its resources in its rapid economic growth. As a major participant in the cleantech market, there will be more outsourced manufactures in China in the rapid growth market phase, more domestic Chinese clean tech startups, and later on more standard setting for the new technology.
http://www.greentechmedia.com/cleantech-investing/post/when-china-rules-the-clean-energy-world/
"CNPC set to buy 35% stake in Shell’s Syria unit" (5-20-10)
China National Petroleum Corporation (CNPC) said on Wednesday that it is acquiring a 35% stake in Royal Dutch Shell’s oil and gas unit in Syria. China continues to expand overseas energy sources to meet domestic demand. The Syria unit has interests in three production licenses covering approximately 40 oil fields. The deal is estimated to be work around $1.5 billion. This is a strategic move that bolsters CNPC’s Middle East Portfolio.
http://www.chinadaily.com.cn/cndy/2010-05/20/content_9870527.htm
“China to buy 7 Brazil transmission firms” (5-19-10)
China’s state controlled State Grid Corp of China will buy 3000 kilometers of transmission lines in Brazil from Plena, controlled by a group of Spanish energy firms.
http://www.chinadaily.com.cn/bizchina/2010-05/19/content_9867687.htm
Chinese company invests in Canadian oil sands (May, 2010)
Canada’s Penn West Energy Trust is getting $985 million investment in oil sands assets from China Investment Corp. In April 2009, another Chinese company, Sinopec, bought ConocoPhilip’s stake for $4.65 billion in the Canadian Syncrude project
http://www.chinadaily.com.cn/bizchina/2010-05/14/content_9850767.htm
http://www.chinadaily.com.cn/bizchina/2010-04/13/content_9721288.htm
Chinese Oil Company Acquire South China Sea Oil Block (5-1-10)
China National Offshore Oil Company Limited has agreed to acquire U.S. based Devon Energy Corporation’s 24.5% interest in a South China Sea oil block for $515 million.
http://www.chinadaily.com.cn/bizchina/2010-05/01/content_9801172.htm
ELECTRIC VEHICLES
“Public transport to help fuel spread of charging network” (5-13-10)
Electric buses are good for establishing a charging network because they have fixed routes. The buses use a batter swap system so that a dead battery can be replaced within 8 minutes. Buses can run 80 kilometers after charging for 4 hours. The buses usually charge batteries twice a day. Right now Beijing has 50 electric buses in operation and plans to add 250 more this year.
Shanghai has set goal of 400 more roadside charging points and seven to 10 large charging stations by the end of 2010.
http://www.chinadaily.com.cn/bizchina/2010-05/13/content_9844157.htm
http://www.chinadaily.com.cn/cndy/2010-05/08/content_9824365.htm
Electric vehicle subsidies (May, 2010)
China hopes to release subsidies to boost demand for small electric cars and vans before June. The State Council, China’s cabinet urged relevant departments to detail the consumer incentives for electric vehicles. The plan should be similar to 2009’s pilot project for public sector buyers where all buyers in certain selected cities can obtain incentives of up to 60,000 yuan.
http://www.chinadaily.com.cn/bizchina/2010-05/07/content_9821318.htm
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