China Launches Upgraded Coal Power Initiative with New Technical Standards for Next-Generation Coal Power Plants

ESG Issue 35 | China Launches New Generation Coal Power Upgrade Initiative; Coal Power Technical Indicator System Released
On April 21, 2025, the National Development and Reform Commission and the Energy Administration issued the Implementation Plan for Upgrading New Generation Coal Power (2025-2027) to promote the transformation and upgrading of coal power. The Implementation Plan emphasizes enhancing support for the planning and construction of new generation coal power. For newly established pilot demonstration projects, the required coal power capacity will be prioritized by the National Energy Administration within the coal power planning and construction scale set by the state.
The plan encourages existing coal power units to upgrade and retrofit, and supports new units and pilot demonstration projects to operate in conjunction with new energy sources. Projects involving new energy will be prioritized for grid connection.

<b>Ministry of Ecology and Environment:</b> Six Major Industries with New Pollutant Projects Face "One-Vote Veto"
On April 15, the Ministry of Ecology and Environment released the <b>Opinions on Strengthening Environmental Impact Assessments for Key Industries Involving New Pollutants</b>. This document imposes restrictions on projects in six major industries, including petrochemicals, coatings, textile dyeing, rubber, pesticides, and pharmaceuticals. Projects that involve 14 types of key controlled new pollutants listed in the <b>Key Control New Pollutants List (2023 Edition)</b> or those specifically mentioned in the <b>Stockholm Convention</b> must undergo an assessment for new pollutants. Any projects involving the production, processing, or use of prohibited new pollutants will face a "one-vote veto" and will not be approved.

<b>Ministry of Industry and Information Technology:</b> Industrial Energy Conservation and Carbon Reduction Diagnostic Services for 2025
On April 16, the General Office of the Ministry of Industry and Information Technology issued a notification about organizing energy conservation and carbon reduction diagnostic services for 2025. Service agencies are expected to identify weaknesses in enterprises’ production processes, key product equipment, energy structure, energy management, and carbon management systems. Based on this analysis, they will propose energy conservation and carbon reduction measures, providing replicable and easily promoted solutions for enterprises in various industries and developmental stages.

<b>Nine Departments Issue Document to Expand Quality Home Services Supply</b>
On April 18, the Ministry of Commerce and eight other departments released measures to promote the expansion and upgrading of home service consumption, focusing on improving service quality, facilitating consumption, enhancing support policies, and optimizing the consumption environment. They explicitly encourage home service companies to explore emerging service fields such as professional deep cleaning, indoor air management, and nutritional consulting, and to strengthen cross-industry integration with sectors like home decoration.

<b>National Bureau of Statistics:</b> National Solar Power Generation in January-March 2025 Up by 19.5%</b>
Data from the National Bureau of Statistics shows that in March 2025, the solar power generation of large-scale industrial units reached 41.8 billion kWh, a year-on-year increase of 8.9%. For the first three months of 2025, solar power generation totaled 113.8 billion kWh, reflecting a 19.5% increase compared to the same period last year.

<b>New Foreign Investment Enterprises Established in January-March 2025</b>
According to the latest statistics from the Ministry of Commerce, 12,603 new foreign-invested enterprises were established nationwide in the first quarter of 2025, marking a 4.3% year-on-year increase. The actual foreign investment amounted to 269.23 billion RMB. By industry, actual foreign investment in manufacturing reached 71.51 billion RMB, while the service sector received 193.33 billion RMB, and high-tech industries attracted 78.61 billion RMB. Notably, foreign investment in e-commerce services, biopharmaceutical manufacturing, aerospace equipment manufacturing, and medical instrument manufacturing grew by 100.5%, 63.8%, 42.5%, and 12.4%, respectively.

<b>Commercial Vehicle Sales Growth in the First Quarter</b>
Recently, the China Association of Automobile Manufacturers reported that in March, commercial vehicle production and sales reached 431,000 and 447,000 units, respectively, with month-on-month increases of 35.8% and 42.8%. In the first quarter, commercial vehicle production totaled 1.048 million units, a 5.1% year-on-year increase, while sales reached 1.051 million units, up by 1.8%. Specifically, sales of new energy commercial vehicles continued to grow, with domestic sales reaching 149,000 units, representing a 48.6% year-on-year increase.

<b>Surge in Green Certificate Issuance in the First Quarter</b>
On April 18, the National Energy Administration released data on the issuance of green electricity certificates, with a total of 662 million certificates issued, equivalent to 662 billion kWh of clean power being certified. In March alone, 174 million certificates were issued, reflecting a year-on-year increase of 939%. As of the end of March 2025, a total of 5.617 billion green certificates have been issued.

<b>World Internet Conference Report on Inclusive AI Governance for Global Sustainable Development</b>
On April 14, during the 2025 World Internet Conference Asia-Pacific Summit, the <b>Report on Inclusive AI Governance Empowering Global Sustainable Development</b> was officially released by the AI Governance Working Committee. The report focuses on AI governance and sustainable development, detailing the global process of AI empowering sustainable development, current progress, and existing issues. It analyzes how to bridge the digital divide and promote AI capability building through inclusive AI development and governance, offering action suggestions to accelerate global sustainable development.

<b>Reform Plan for Personal Marketing System in Life Insurance Industry Implemented</b>
On April 18, the National Financial Regulatory Administration published the <b>Notice on Promoting the Deepening Reform of the Personal Marketing System in the Life Insurance Industry</b>, which aims to optimize the commission incentive distribution mechanism and enhance long-term service capabilities. It also supports the China Insurance Industry Association in establishing classification standards for life insurance products and grading standards for insurance sales personnel. Insurance companies are required to compute overall commissions based on established commission policies, budget, and assessment mechanisms.

<b>Construction of China's Highest Ultra-Supercritical Coal Power Project Accelerates</b>
The <b>First Phase of the 2×660 MW Coal Power Project in Geermu, Qinghai</b> is located in the Economic and Technological Development Zone of Geermu, Haixi Mongolian and Tibetan Autonomous Prefecture, with a total investment of approximately 6.382 billion RMB. This project is currently the highest ultra-supercritical coal-fired power generation unit in China. As of now, large-scale construction is underway on-site. Once completed, the project will significantly enhance the support capability of Qinghai's power grid and reduce its over-reliance on the Northwest main grid while effectively fulfilling the foundational support and system adjustment roles of coal power.

<b>China's First Inter-Regional Hydrogen Heavy-Duty Truck Corridor Launched</b>
On April 14, ten hydrogen heavy-duty trucks loaded with chemicals, laptops, and auto parts departed from the Sinopec Chongqing Petroleum Ganshui Hydrogen Station after refueling. They traveled through Guizhou towards Qinzhou Port in Guangxi, marking the launch of China's first inter-regional hydrogen heavy-duty truck corridor, which will enter a regular operational phase. This "hydrogen corridor" spans approximately 1,150 kilometers and includes four hydrogen refueling stations constructed by Sinopec, ensuring a stable hydrogen supply network. The route passes through regions rich in hydrogen resources, where technologies such as water electrolysis and ammonia decomposition for hydrogen production have been scaled up.

<b>First Batch of 380 Data Products Launched by Jiangsu Data Exchange</b>
On April 18, the Jiangsu Data Exchange officially launched its first batch of 380 data products provided by 157 data merchants, with 151 products being listed for the first time. These data products cover various sectors, including finance, transportation, modern agriculture, industrial manufacturing, environmental protection, energy, and healthcare, and include datasets, data services, and data applications.

<b>Jiangsu Optimizes Time-of-Use Electricity Pricing: Adds Off-Peak Periods in Spring and Autumn</b>
Recently, the Jiangsu Development and Reform Commission issued a notification seeking opinions on optimizing the time-of-use electricity pricing structure to promote the absorption of new energy and support economic and social development. The document expands the implementation scope of time-of-use pricing for all industrial and commercial electricity users, excluding those specifically regulated by the state. It also adjusts the time-of-use pricing periods, optimizing the settings for summer and winter while adding off-peak periods for spring and autumn afternoons.

<b>First "Private Credit Loan" Launched in Jiangsu</b>
On April 18, the Jiangsu Development and Reform Commission and Jiangsu Rural Commercial Bank held a strategic cooperation signing ceremony. In response to the difficulties private enterprises face in financing guarantees and cumbersome procedures, they jointly announced the launch of the "Private Credit Loan," the first credit loan product specifically for private enterprises in the country. Additionally, four rural commercial banks provided on-site credit of 350 million RMB to eight private enterprises, including 150 million RMB for the "Private Credit Loan."

<b>First Ecological Environment Damage Direct Compensation and Restoration Center Launched in Wuxi</b>
Recently, the first national ecological environment damage direct compensation and restoration center was inaugurated in Wuxi, marking the establishment of a pioneering direct compensation and restoration model. This center will provide "one-stop" direct compensation services for companies insured by ecological responsibility insurance when ecological damage occurs, eliminating the need for companies to advance ecological restoration costs and simplifying the process, saving at least 3 to 6 months in claims processing time.

<b>CITIC Bohai Plans to Invest Up to 2.022 Billion RMB to Build Zero-Carbon Headquarters</b>
CITIC Bohai (688408.SH) announced plans to construct a zero-carbon headquarters base in Lujia Town, Kunshan City, with an investment of no more than 2.022 billion RMB. The main products include "tracking+" series solutions, operation and maintenance products, and "green electricity+" integrated solutions.

<b>Sunwoda Signs Agreement for 400MWh Independent Energy Storage Project in Yancheng, Jiangsu</b>
On April 15, Sunwoda Smart Energy Company signed a cooperation framework agreement with the Suzhou Yancheng Coastal Development Zone Management Committee in Jiangsu Province to build a 200MW/400MWh grid-side independent energy storage project. As a large-scale independent energy storage station in the region, this project is a significant step in building a new power system in Yancheng and Jiangsu Province.

<b>China Materials Technology Subsidiary Plans to Invest 114 Million Euros to Set Up Lithium Membrane Base in Hungary</b>
Recently, China Materials Technology announced that its subsidiary, China Materials Lithium Membrane Co., Ltd., plans to establish a new company in Hungary, investing 11.418 million euros to build a production base with an annual capacity of 640 million square meters of wet-coated separator. The total investment for the project is 11.418 million euros, including 8.605 million euros for construction and 2.564 million euros for working capital, with interest during the construction period amounting to 249,000 euros. The project will utilize leased facilities to set up eight production lines for coated separators, with a total annual capacity of 640 million square meters (based on double-sided coated separator production), and is expected to be completed within 18 months.

<b>SUNEN Co. Begins Construction of Energy Storage Station Project in Fengxian, Xuzhou</b>
Recently, the energy storage station project by SUNEN Co. officially began construction. This project has a installed capacity of 50MW/100MWh and utilizes lithium iron phosphate battery technology. It consists of 12 energy storage systems, along with a 110KV booster station. Each storage system operates as a unit, equipped with one PCS integrated machine and two battery cabinets, and connects to the 110KV booster station via 35kV collection lines, enabling participation in grid frequency regulation and peak shaving auxiliary services.

<b>Chint New Energy Delivers 38MW Photovoltaic Project in the Netherlands</b>
Recently, Chint New Energy's European branch delivered the Larendeel 38MW photovoltaic project in the Netherlands. Located in Druten, a central city in the Netherlands, the project spans 32 hectares and is set to begin construction in the summer of 2024, with delivery expected in the first quarter of 2025. Once operational, it will provide stable green energy supplies for around 12,000 households in the surrounding area.

<b>LONGi Breaks World Record for Silicon-Perovskite Tandem Cell Efficiency</b>
Recently, LONGi's research and development team achieved a significant breakthrough. The silicon-perovskite tandem solar cell developed by LONGi has reached a conversion efficiency of 34.85%, certified by the National Renewable Energy Laboratory (NREL), setting a new world record for this type of solar cell.

<b>Zhengli New Energy Listed on Hong Kong Stock Exchange</b>
On April 14, Jiangsu Zhengli New Energy Battery Technology Co., Ltd. (stock name: Zhengli New Energy) was listed on the main board of the Hong Kong Stock Exchange, raising 1.005 billion HKD. Founded in 2019, the company focuses on the research, development, production, and sales of power battery products, energy storage battery products, and aviation battery products, providing integrated solutions for cells, modules, battery packs, battery clusters, and battery management systems, and aims to expand the large-scale application of electrochemical products across land, sea, and air.

<b>YingEn Bio Listed on Hong Kong Stock Exchange</b>
On April 15, YingEn Biopharmaceuticals (Suzhou) Co., Ltd. (stock name: YingEn Bio) was officially listed on the main board of the Hong Kong Stock Exchange. YingEn Bio is a global leader in the research and development of antibody-drug conjugates (ADCs), focusing on cancer and autoimmune diseases, and has built a significantly differentiated innovation pipeline covering 12 self-developed ADC candidates based on its four proprietary technology platforms.

<b>Huasheng Group Director Penalized for Short-Term Trading</b>
On the evening of April 15, Huasheng Group announced that its director, Liu Peng, was warned and fined 150,000 RMB by the Jiangsu Securities Regulatory Bureau for engaging in short-term trading. Specifically, between March 29 and April 3, 2024, Liu used his own securities account and his spouse's account to sell 73,200 convertible bonds of "Huasheng" for a total of 8.82 million RMB and bought 36,600 convertible bonds for 4.56 million RMB. His actions constituted short-term trading, violating relevant regulations.

<b>Jiangsu Hai'an Yin Hai Village Bank Fined 200,000 RMB</b>
Recently, the People's Bank of China Nantong Branch imposed an administrative penalty on Jiangsu Hai'an Yin Hai Village Bank Co., Ltd. and its responsible person, Wang, who was the former deputy general manager of the marketing department. The bank was found to have violated the <b>Anti-Money Laundering Law</b> by conducting transactions with unidentified clients, leading to a fine of 200,000 RMB. Wang was fined 10,000 RMB due to direct responsibility for the violation. The penalty information will be publicly disclosed for three years.