How China secures safe, stable energy supply amid COVID-19

STORY: How does China secures safe, stable energy supply amid COVID-19 DATELINE: May 4, 2022 LENGTH: 00:01:25 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of Beijing 2. various of coal 3. various of new energy 4. various of hydrogen energy STORYLINE: China has pledged maximum efforts to safeguard its energy supply amid increasing uncertainties in the global energy market caused by international geopolitical conflicts. China will strive to increase coal production capacity by 300 million tonnes. Its raw coal output rose 10.3 percent year on year to 1.08 billion tonnes in the first quarter of 2022. The country's central bank will issue 100 billion yuan (about 15.11 bln U.S. dollars) of reloans to support coal development and energy storage. China is also developing renewable energy. In the first three months this year, the capacity of wind power jumped 17.4 percent year on year to 340 million kilowatts. During the same period, solar farms saw capacity reach 320 million kilowatts, with an in

GLOBALink | Foreign firms confident in China's long-term economic prospect

Despite challenges brought by the sporadic resurgences of COVID-19, foreign investors in China pin high hope on the country's resilience in recovery as well as its capacity to achieve the growth target. In the first quarter of this year, the Chinese economy grew by 4.8 percent year on year. The country's policymakers have rolled out a series of measures to shore up growth. To lower the financing costs for the real economy, the country's central bank recently cut the reserve requirement ratio for financial institutions, while setting up special reloans to support sectors including sci-tech innovation and elderly care. Produced by Xinhua Global Service