https://www.scmp.com/rss/519590/feed Climate change is a major global challenge that will have a profound impact on the planet. To mitigate the worsening effects of global warming requires a speedy transition to renewable energy sources to cut greenhouse gas emissions. en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Alice Li Alice Li Beijing’s municipal government plans to have more than 12,000 hydrogen fuel cell vehicles on its roads and build more than 40 hydrogen refuelling stations by 2030, as part of China’s efforts to promote hydrogen as a strategic energy carrier to strengthen energy security under a national pilot programme. The targets, set out in a five-year plan for the capital city’s hydrogen industry released on Friday, focus on expanding the use of hydrogen fuel cell vehicles in road transport, including... https://www.scmp.com/economy/china-economy/article/3372980/beijing-city-officials-boost-hydrogen-cars-china-sets-sights-future-industry https://www.scmp.com/economy/china-economy/article/3372980/beijing-city-officials-boost-hydrogen-cars-china-sets-sights-future-industry Mon, 02 Nov 2026 13:30:06 +0000 Themis Qi Themis Qi Contemporary Amperex Technology Ltd (CATL) has doubled down on new businesses including battery swapping and energy storage as the world’s largest battery maker seeks new growth drivers amid intensifying price wars and mounting pressure on profitability. But the new path is far from straightforward. Established players like Nio have already built a strong presence in battery swapping, while BYD has reinforced its position in energy-storage systems. Lucas Zhang Liutong, director of Hong... https://www.scmp.com/business/climate-and-energy/article/3372711/can-battery-swapping-and-energy-storage-power-catls-next-phase-growth https://www.scmp.com/business/climate-and-energy/article/3372711/can-battery-swapping-and-energy-storage-power-catls-next-phase-growth Sat, 31 Oct 2026 08:00:09 +0000 Themis Qi Themis Qi China’s makers of energy storage systems, including Contemporary Amperex Technology (CATL) and Gotion High-Tech, stand to benefit as conflict in the Middle East keeps fossil fuel prices elevated, raising demand for their products in green energy projects, according to analysts. The tailwinds are expected to outweigh a slowdown in the local market, where weaker-than-expected demand has dragged stock prices in the lithium-ion battery supply chain down by more than 46 per cent over the past six... https://www.scmp.com/business/climate-and-energy/article/3372649/catl-byd-gotion-gain-fossil-fuel-prices-drive-demand-battery-energy-storage https://www.scmp.com/business/climate-and-energy/article/3372649/catl-byd-gotion-gain-fossil-fuel-prices-drive-demand-battery-energy-storage Fri, 30 Oct 2026 03:00:10 +0000 Themis Qi Themis Qi China’s BYD will build new factories in Europe for a bigger market share, as the world’s largest electric vehicle (EV) maker faces fiscal support pullback at home and rising trade barriers overseas, according to an executive. “Europe is a very important regional market for BYD. We will not let tariff increases affect local consumers’ choice of BYD,” said Liu Xueliang, vice-president at the Shenzhen-based carmaker, in a recent interview. Liu also reaffirmed that BYD was actively expanding its... https://www.scmp.com/business/china-evs/article/3372001/byd-build-new-factories-europe-combat-strict-trade-barriers-targeting-chinese-evs https://www.scmp.com/business/china-evs/article/3372001/byd-build-new-factories-europe-combat-strict-trade-barriers-targeting-chinese-evs Sun, 25 Oct 2026 08:00:09 +0000 Enoch Yiu Enoch Yiu Hong Kong Exchanges and Clearing (HKEX) has completed the first cross-border trading of green products under two separate pilot programmes with exchanges in Guangzhou and Shenzhen, according to an executive. The exchange’s Core Climate platform has enabled 15 companies, including Airport Authority, China Power International Development, Bank of China (Hong Kong) and others, to purchase Green Electricity Certificates (GECs) through the Guangzhou Power Exchange Centre with a total volume of about... https://www.scmp.com/business/climate-and-energy/article/3370720/hong-kong-completes-pilot-schemes-trade-green-products-exchanges-mainland-china https://www.scmp.com/business/climate-and-energy/article/3370720/hong-kong-completes-pilot-schemes-trade-green-products-exchanges-mainland-china Tue, 13 Oct 2026 23:00:07 +0000 Wency Chen,Howard Liu Wency Chen,Howard Liu China has set a five-year goal for the expansion of intelligent computing capacity to drive artificial intelligence (AI) that calls for a more than fourfold increase on what was in place at the end of June this year. To reach the 2030 target while being blocked by the United States from importing the most advanced Western-made AI chips will require innovation, adaptation and the application and coordination of vast resources. Judging by the 177 per cent increase in capacity achieved in the year... https://www.scmp.com/plus/tech/policy/article/3369537/chinas-ai-compute-ambitions-demand-innovation https://www.scmp.com/plus/tech/policy/article/3369537/chinas-ai-compute-ambitions-demand-innovation Fri, 02 Oct 2026 07:05:21 +0000 Daniel Ren Daniel Ren Volkswagen Group and its Chinese partner Gotion High-tech have stepped up a gear in tapping global demand for electric vehicle (EV) batteries with plans to invest a combined €3.22 billion (US$3.66 billion) to set up three production lines in Europe and North Africa. The factories, to be jointly owned by the German marque and China’s fourth-largest EV battery maker, would be capable of delivering 37.5 gigawatt hours (GWh) of lithium-ion battery capacity and 100,000 metric tons of cathode... https://www.scmp.com/business/china-business/article/3369104/vw-gotion-ramp-battery-production-europe-morocco-amid-rising-ev-demand https://www.scmp.com/business/china-business/article/3369104/vw-gotion-ramp-battery-production-europe-morocco-amid-rising-ev-demand Mon, 28 Sep 2026 14:28:42 +0000 Daniel Ren Daniel Ren Chinese electric vehicle (EV) maker Nio has deepened its partnership with Zhejiang Geely Holding Group after agreeing to sell a stake in its battery swap subsidiary to the automotive conglomerate in a deal that values the unit at 16 billion yuan (US$2.4 billion). Geely Holding, controlled by Chinese billionaire Li Shufu, would pay 640 million yuan in cash and contribute its wholly owned battery-swapping unit Yiyi Internet Technology in exchange for a 30 per cent share in Nio Power, Nio said in a... https://www.scmp.com/business/china-evs/article/3369047/chinas-nio-and-geely-deepen-commitment-ev-battery-swapping-tech-stake-sale https://www.scmp.com/business/china-evs/article/3369047/chinas-nio-and-geely-deepen-commitment-ev-battery-swapping-tech-stake-sale Mon, 28 Sep 2026 08:00:11 +0000 Daniel Ren Daniel Ren EnerVenue, a start-up co-founded by Full Vision Capital, the family office of Hong Kong tycoon Peter Lee Ka-kit, has begun manufacturing a new battery it expects to challenge existing energy-storage technologies dominated by mainland Chinese players, amid surging global demand for green energy. The California-based company can now produce 250 megawatt-hours (MWh) of nickel-hydrogen batteries annually at its factory in Changzhou, in eastern China’s Jiangsu province, and plans to raise capacity to... https://www.scmp.com/business/china-evs/article/3368843/hong-kong-tycoon-backed-start-bets-new-battery-challenge-energy-storage-giants https://www.scmp.com/business/china-evs/article/3368843/hong-kong-tycoon-backed-start-bets-new-battery-challenge-energy-storage-giants Sat, 26 Sep 2026 08:00:06 +0000 Themis Qi Themis Qi China’s electric vehicle (EV) makers and battery manufacturers are locked in negotiations over which party should pay a resumed consumption tax, according to industry sources, a conflict that underlines carmakers’ struggles amid weak home market demand. Beijing is ending an 11-year exemption on a 4 per cent consumption tax on lithium-ion batteries and related products. It returned to 2 per cent on September 1 and will be fully restored one year later. The country’s battery makers planned to pass... https://www.scmp.com/business/china-evs/article/3368627/chinas-ev-and-battery-makers-tussle-over-paying-resumed-lithium-ion-tax-sources https://www.scmp.com/business/china-evs/article/3368627/chinas-ev-and-battery-makers-tussle-over-paying-resumed-lithium-ion-tax-sources Fri, 25 Sep 2026 00:00:29 +0000 Ralph Jennings Ralph Jennings Five years after China pledged to stop building or financing new coal-fired power plants overseas, the country’s state sector has made “significant progress” towards meeting that goal, though private projects are still being developed, according to a new report. Two-thirds of China’s overseas coal power projects planned five years ago have since been cancelled, a 61.5-gigawatt (GW) cut in capacity that has saved 6.4 billion tonnes of “lifetime” carbon dioxide emissions, the study by a pair of... https://www.scmp.com/economy/china-economy/article/3368556/china-has-scrapped-two-thirds-its-planned-coal-power-plants-abroad-report https://www.scmp.com/economy/china-economy/article/3368556/china-has-scrapped-two-thirds-its-planned-coal-power-plants-abroad-report Thu, 24 Sep 2026 01:00:09 +0000 Daniel Ren Daniel Ren Contemporary Amperex Technol­ogy Ltd (CATL) has cleared all regulatory hurdles for its mega factory in Hungary, a development that analysts expect will help the world’s largest producer of electric vehicle (EV) batteries extend its reach to international marques like BMW and Volkswagen. Production of battery cells at the €7.3 billion (US$8.35 billion) plant in Debrecen, the second-largest city in Hungary, began on Tuesday after it fulfilled all preconditions for a trial run, the company said. It... https://www.scmp.com/business/china-business/article/3368463/chinese-ev-battery-giant-catl-starts-trial-production-hungarian-factory https://www.scmp.com/business/china-business/article/3368463/chinese-ev-battery-giant-catl-starts-trial-production-hungarian-factory Wed, 23 Sep 2026 06:00:04 +0000 Themis Qi Themis Qi Contemporary Amperex Technology Limited’s (CATL) dominance in the Chinese electric vehicle (EV) market is unlikely to slump over the coming year given its brand recognition and edge in technology, analysts said, though its shares have already tumbled amid the battle with profit-squeezed EV makers. Chinese carmakers have been doubling down on efforts in recent weeks to reduce their reliance on CATL – in September, Xiaomi and Li Auto highlighted their partnership with tier-two battery... https://www.scmp.com/business/china-business/article/3368231/despite-stock-stress-catl-likely-retain-ev-battery-dominance-china-analysts-say https://www.scmp.com/business/china-business/article/3368231/despite-stock-stress-catl-likely-retain-ev-battery-dominance-china-analysts-say Mon, 21 Sep 2026 08:04:55 +0000 Daniel Ren,Themis Qi Daniel Ren,Themis Qi Beijing has put a freeze on new approvals of production facilities for energy-storage batteries amid worries about excess supply and vicious price competition, according to industry officials. Companies had not been allowed to add new capacity since May, as key regulators like the Ministry of Industry and Information Technology (MIIT) stepped in to curb a construction spree that risked creating severe overcapacity despite rising demand from renewable-energy projects around the world, the sources... https://www.scmp.com/business/china-business/article/3367241/beijing-freezes-plant-approvals-energy-storage-batteries-amid-overcapacity-fears https://www.scmp.com/business/china-business/article/3367241/beijing-freezes-plant-approvals-energy-storage-batteries-amid-overcapacity-fears Fri, 11 Sep 2026 11:43:05 +0000 Themis Qi Themis Qi Chinese energy firms have called for policy stability in overseas markets as their global investments face mounting geopolitical risks amid headwinds from the oil crisis. The call came from Sungrow Power Supply and EVE Energy executives, who said policy stability topped their expectations at an event in Hong Kong on Tuesday. Both companies have come under fresh pressure in the US market in the past two months. Sungrow, the world’s second-largest energy storage system maker, was hit by a US... https://www.scmp.com/business/china-business/article/3366876/chinese-energy-firms-warn-policy-volatility-complicates-long-term-expansion-abroad https://www.scmp.com/business/china-business/article/3366876/chinese-energy-firms-warn-policy-volatility-complicates-long-term-expansion-abroad Wed, 09 Sep 2026 08:00:07 +0000 Yulu Ao Yulu Ao Hong Kong is poised to play a bigger role in financing Chinese green-technology companies’ expansion into emerging markets, as geopolitical fragmentation and high funding costs reshape how capital is deployed in the global energy transition, according to senior banking executives. The city’s deep sustainable-finance market and offshore yuan liquidity could help channel capital into green and climate-resilience projects across developing economies, executives from Bank of China (Hong Kong), DBS,... https://www.scmp.com/business/article/3366629/chinese-firms-green-tech-expansion-hinges-hong-kong-senior-bankers-say https://www.scmp.com/business/article/3366629/chinese-firms-green-tech-expansion-hinges-hong-kong-senior-bankers-say Mon, 07 Sep 2026 09:00:10 +0000 Themis Qi Themis Qi China’s electric vehicle (EV) battery makers saw their combined net profit in the first half of the year nearly double that of the country’s major carmakers, widening the profitability gap amid weakening domestic demand for EVs. Seven major battery manufacturers, including Contemporary Amperex Technology Limited (CATL), recorded a net profit of over 50 billion yuan (US$7.4 billion) during the January-June period, up 49 per cent year on year, according to the companies’ exchange filings. However,... https://www.scmp.com/business/china-evs/article/3366613/chinas-leading-ev-battery-makers-profits-nearly-double-industrys-carmakers https://www.scmp.com/business/china-evs/article/3366613/chinas-leading-ev-battery-makers-profits-nearly-double-industrys-carmakers Mon, 07 Sep 2026 07:11:26 +0000 Enoch Yiu Enoch Yiu HSBC has teamed up with partners to launch a non-profit platform to help emerging markets in upgrading their technology and shifting from oil and coal to renewable energy, according to a senior executive at the lender. The Green Accelerator Programme, rolled out on Monday with backing from HSBC, the Asian Infrastructure Investment Bank, the Silk Road Fund and others, will channel private capital into feasibility studies and due diligence for emerging-market companies and governments adopting... https://www.scmp.com/business/banking-finance/article/3366545/hsbc-backed-platform-drives-green-transition-capital-emerging-markets-amid-global-risks https://www.scmp.com/business/banking-finance/article/3366545/hsbc-backed-platform-drives-green-transition-capital-emerging-markets-amid-global-risks Mon, 07 Sep 2026 04:00:14 +0000 Yulu Ao Yulu Ao Hong Kong unveiled an expanded sustainable finance taxonomy as the city kicked off its annual Green Week on Monday, broadening the range of economic activities recognised as green or transition. The Hong Kong Monetary Authority (HKMA) launched a public consultation on the Phase 2B prototype of its Hong Kong Taxonomy for Sustainable Finance, adding 10 activities across transportation, manufacturing and waste management. Together with the reclassification of existing categories, the... https://www.scmp.com/business/china-business/article/3366529/hong-kong-broadens-sustainable-finance-taxonomy-framework-boost-transition-capital https://www.scmp.com/business/china-business/article/3366529/hong-kong-broadens-sustainable-finance-taxonomy-framework-boost-transition-capital Sun, 06 Sep 2026 23:00:12 +0000 Yulu Ao Yulu Ao PetroChina, China’s largest oil and gas producer, has announced that it is gradually restoring operations at its Middle Eastern projects after the US-Israeli war in Iran severely disrupted global energy flows this year. On Monday, the company reported a 22 per cent jump in first-half net profit to 103.9 billion yuan (US$15.4 billion) for the six months ended June, as higher crude oil prices boosted earnings from its upstream operations while natural-gas operations offset weaker oil production... https://www.scmp.com/business/china-business/article/3365866/petrochinas-first-half-profit-jumps-22-higher-oil-prices-offset-iran-war-supply-hit https://www.scmp.com/business/china-business/article/3365866/petrochinas-first-half-profit-jumps-22-higher-oil-prices-offset-iran-war-supply-hit Mon, 31 Aug 2026 11:23:10 +0000 Themis Qi Themis Qi From data centres to hydropower stations, Chinese battery giant Contemporary Amperex Technology Limited (CATL) is placing investment bets on prospective growth engines following the electric vehicle (EV) boom, according to analysts. Since June last year, at least seven CATL-led equity deals involving a total of over 17 billion yuan (US$2.5 billion) have been announced in non-battery industries. The sectors involved span humanoid robots, state-owned hydropower stations, artificial intelligence... https://www.scmp.com/business/china-business/article/3365515/chinese-battery-giant-catl-spreads-investments-search-new-growth-drivers https://www.scmp.com/business/china-business/article/3365515/chinese-battery-giant-catl-spreads-investments-search-new-growth-drivers Fri, 28 Aug 2026 02:00:20 +0000 Yulu Ao Yulu Ao China National Offshore Oil Corporation (CNOOC), the nation’s largest offshore oil and gas producer, saw its net profit jump 23.4 per cent to a record high in the first half of the year, as higher oil prices and increased production boosted earnings amid the Iran war. The company’s net profit rose to 85.8 billion yuan (US$12.7 billion) in the six months ended June, up from 69.5 billion yuan a year earlier, according to an exchange filing on Wednesday. Revenue increased 16.9 per cent to 242.7... https://www.scmp.com/business/china-business/article/3365343/chinas-cnooc-rakes-record-first-half-profit-high-oil-prices-amid-iran-war https://www.scmp.com/business/china-business/article/3365343/chinas-cnooc-rakes-record-first-half-profit-high-oil-prices-amid-iran-war Wed, 26 Aug 2026 11:08:09 +0000 Morning Studio editors Morning Studio editors Across the globe – and Asia in particular – the link between a changing climate and human health is becoming harder to ignore. Home to an estimated 60 per cent of the world’s population, Asia is warming faster than the global average and ranks among the planet’s most climate-disaster-prone regions. Yet public awareness has not kept pace with the scale of the threat. In Hong Kong, many residents remain unaware of the health risks posed by rising temperatures; they are also unaware of how simple... https://www.scmp.com/native/business/climate-and-energy/topics/asias-next-major-health-challenge/article/3364368/why-rising-heat-asias-next-major-health-challenge https://www.scmp.com/native/business/climate-and-energy/topics/asias-next-major-health-challenge/article/3364368/why-rising-heat-asias-next-major-health-challenge Wed, 26 Aug 2026 02:00:08 +0000 Christina Zhao Christina Zhao Family offices in the Asia-Pacific region are putting more funding into sustainability projects and adopting a “systems-level” approach to make a greater impact, a trend that is set to boost Hong Kong’s role as a hub for impact investing, according to a survey released on Tuesday. The proportion of family offices allocating more than half of their portfolios to impact and environmental, social and governance (ESG) strategies climbed to 27 per cent this year, a significant jump from 17 per cent... https://www.scmp.com/business/banking-finance/article/3365203/asias-super-rich-are-going-all-sustainability-impact-investing-grows-survey https://www.scmp.com/business/banking-finance/article/3365203/asias-super-rich-are-going-all-sustainability-impact-investing-grows-survey Tue, 25 Aug 2026 09:59:30 +0000 Huizhao Huang Huizhao Huang China has flown an airborne wind energy system to 4,000 metres (13,123 feet) above sea level and generated electricity from the sky, in what state broadcaster CCTV described as a world first. According to a CCTV report on Saturday, the prototype S4000 craft completed a full work cycle – ascent, station-keeping, power generation and recovery – at a test site in northwestern China, which the broadcaster called a breakthrough for high-altitude wind power and a step towards engineering... https://www.scmp.com/economy/china-economy/article/3365180/china-taps-high-altitude-winds-power-generation-flying-craft-4000m https://www.scmp.com/economy/china-economy/article/3365180/china-taps-high-altitude-winds-power-generation-flying-craft-4000m Tue, 25 Aug 2026 08:00:11 +0000 Themis Qi Themis Qi China’s battery king Contemporary Amperex Technology Limited (CATL) is enabling direct sales to smaller energy storage system makers via its own e-commerce platform, as competition with its domestic peers intensifies. The platform, officially launched on Friday, would offer orders as small as three boxes of its energy storage products, according to a social media post by the firm. CATL is currently the world’s largest producer of lithium-ion batteries for electric vehicles and energy storage... https://www.scmp.com/business/climate-and-energy/article/3365039/catl-debuts-e-commerce-platform-direct-sales-small-buyers-competition-sharpens https://www.scmp.com/business/climate-and-energy/article/3365039/catl-debuts-e-commerce-platform-direct-sales-small-buyers-competition-sharpens Mon, 24 Aug 2026 07:11:37 +0000 Ben Jiang Ben Jiang For generations, Ulanqab – a city several hundred kilometres northwest of Beijing whose Mongolian name means “red cliff pass” – was known for its windswept pastureland, where cattle grazed and potatoes thrived under long hours of sunlight. Its economy hinged on the weather, driven by the cool, strong breezes sweeping through the Yinshan mountain range. Today, giant wind turbines stand next to livestock across those sloping grasslands. As the global artificial intelligence boom fuels a scramble... https://www.scmp.com/tech/tech-trends/article/3364920/rural-city-once-known-livestock-now-provides-chinas-ai-computing-fuel https://www.scmp.com/tech/tech-trends/article/3364920/rural-city-once-known-livestock-now-provides-chinas-ai-computing-fuel Mon, 24 Aug 2026 02:00:17 +0000 Daniel Ren Daniel Ren Chinese carmakers, already at the vanguard of electric vehicle (EV) technology and production, are looking to make a dent in international marques’ full-hybrid vehicle stronghold as they continue to disrupt the global car industry’s pecking order. Major car builders including Geely Auto and Changan Automobile have reported impressive sales of hybrid electric vehicles (HEVs), luring domestic consumers away from the likes of Toyota’s Prius. “Chinese-developed HEVs, banking on the carmakers’... https://www.scmp.com/business/china-business/article/3364906/after-gaining-ev-dominance-chinese-carmakers-shift-goal-take-full-hybrid-behemoths https://www.scmp.com/business/china-business/article/3364906/after-gaining-ev-dominance-chinese-carmakers-shift-goal-take-full-hybrid-behemoths Sun, 23 Aug 2026 06:00:15 +0000 Mia Nurmamat Mia Nurmamat China has announced a new dedicated five-year plan to drill more crude oil and expand its network of pipelines as the world’s largest importer of fossil fuels faces heightened supply risks from geopolitical tensions. The plan, unveiled on Monday by the National Development and Reform Commission and the National Energy Administration, called for natural gas storage capacity to exceed 13 per cent of national consumption by 2030. China also aimed to expand the annual handling capacity of its... https://www.scmp.com/economy/china-economy/article/3364406/china-plans-peak-oil-demand-amid-pipeline-increase-intelligent-rig-development https://www.scmp.com/economy/china-economy/article/3364406/china-plans-peak-oil-demand-amid-pipeline-increase-intelligent-rig-development Tue, 18 Aug 2026 07:26:55 +0000 Fan Hou Fan Hou China unveiled its 15th five-year plan for the oil and gas sector on August 17. The nation aims for domestic oil and gas production equal to 440 million tonnes of oil equivalent by 2030, a 5 per cent increase over its 2025 output. Below are key targets of the blueprint, which was released jointly by the National Development and Reform Commission and National Energy Administration. See below for the original document in Chinese: China's 15th five-year plan for the oil and gas sector by scmp https://www.scmp.com/plus/economy/china-economy/article/3364370/chinas-five-year-plan-its-oil-and-gas-sector https://www.scmp.com/plus/economy/china-economy/article/3364370/chinas-five-year-plan-its-oil-and-gas-sector Tue, 18 Aug 2026 03:47:02 +0000 Daisy Wu Daisy Wu More than a third of Asian Infrastructure Investment Bank’s (AIIB) sovereign borrowers could face credit rating downgrades by 2050 if global climate policy fails to strengthen, the Beijing-based multilateral lender said in a report. Under a current policy scenario – in which existing climate rules remain unchanged and global temperature rises by around 2.9 degrees Celsius above pre-industrial levels – nearly 34 per cent of the bank’s sovereign portfolio would suffer downgrades, according to the... https://www.scmp.com/business/banking-finance/article/3363764/aiib-warns-climate-inaction-could-downgrade-third-sovereign-borrowers-2050 https://www.scmp.com/business/banking-finance/article/3363764/aiib-warns-climate-inaction-could-downgrade-third-sovereign-borrowers-2050 Sun, 16 Aug 2026 23:00:11 +0000 Themis Qi Themis Qi Investors should further reduce their exposure to US Treasuries and the US dollar over the next decade, as tech-driven inflation and high government deficits are likely to erode their value, a leading private bank has warned. Shifting to commodities and equities in emerging markets offers a greater chance of long-term returns, with global inflation expected to remain volatile and sticky for years due to factors including the artificial intelligence (AI) boom and decarbonisation efforts,... https://www.scmp.com/business/markets/article/3364067/reduce-your-exposure-us-assets-they-lose-value-pictet-warns-investors https://www.scmp.com/business/markets/article/3364067/reduce-your-exposure-us-assets-they-lose-value-pictet-warns-investors Fri, 14 Aug 2026 12:00:13 +0000 Haining Gao Haining Gao China unveiled its 15th five-year plan for the power sector on August 3. Below are key targets of the blueprint, which was released jointly by the National Development and Reform Commission and National Energy Administration. See original document in Chinese: 新型电力系统建设“十五五”规划 by scmp https://www.scmp.com/plus/economy/china-economy/article/3363503/chinas-five-year-road-map-power-sector https://www.scmp.com/plus/economy/china-economy/article/3363503/chinas-five-year-road-map-power-sector Mon, 10 Aug 2026 07:43:22 +0000 Themis Qi Themis Qi Consumer demand for affordable electric vehicles is likely to force open the US market to Chinese electric vehicle (EV) brands within the next few years, even though they currently face trade barriers, according to analysts. US carmakers are expecting the same, with Ford CEO Jim Farley recently predicting the entry of Chinese EVs as early as five years. Farley, one of the most outspoken voices in the US automotive industry on the competitiveness of Chinese EVs, told Ford’s staff two weeks ago... https://www.scmp.com/business/china-evs/article/3363399/demand-affordable-evs-will-force-open-us-market-chinese-models-eventually-analysts https://www.scmp.com/business/china-evs/article/3363399/demand-affordable-evs-will-force-open-us-market-chinese-models-eventually-analysts Sun, 09 Aug 2026 10:00:07 +0000 Themis Qi Themis Qi China’s SAIC Motor has extended its cooperation with General Motors by 20 years, renewing the joint venture through 2047 amid aggressive competition from home-grown rivals. SAIC and GM, the largest carmakers in China and the United States, respectively, in terms of sales volume, signed the agreement on Wednesday, building on a partnership that began in 1995 and led to the SAIC-GM joint venture in 1997. Wang Xiaoqiu, chairman of state-owned SAIC, said both sides should leverage their strengths in... https://www.scmp.com/business/china-evs/article/3363081/how-saics-recharged-venture-gm-plans-catch-top-ev-makers-china https://www.scmp.com/business/china-evs/article/3363081/how-saics-recharged-venture-gm-plans-catch-top-ev-makers-china Wed, 05 Aug 2026 23:01:04 +0000 Themis Qi Themis Qi Chinese electric vehicle (EV) makers and Tesla are locked in a tug of war across western Europe, taking advantage of rising consumer demand for battery-powered vehicles as volatile oil prices drive buyers away from traditional models. Chinese brands – including BYD to Xpeng – saw their combined market share of new car sales across 18 Western European countries rise to a record 10.7 per cent in the second quarter of 2026, up from 5.7 per cent a year earlier, data from Germany-based consultancy... https://www.scmp.com/business/china-evs/article/3362905/europes-new-ev-power-struggle-sees-chinese-giants-seize-record-market-share https://www.scmp.com/business/china-evs/article/3362905/europes-new-ev-power-struggle-sees-chinese-giants-seize-record-market-share Tue, 04 Aug 2026 07:26:55 +0000 Daniel Ren,Themis Qi Daniel Ren,Themis Qi On a cloudy evening in late April, a tech event hosted at Beijing’s National Convention Centre by Contemporary Amperex Technology Ltd (CATL) drew nearly 1,000 people eager for a glimpse of next-generation electric vehicle (EV) batteries that could reshape the global automotive landscape. Gao Huan, chief technology officer for the auto business at CATL, the world’s largest producer of EV batteries, exuded confidence while promoting the new Shenxing product series. According to the company, its... https://www.scmp.com/business/china-business/article/3362604/will-new-batteries-give-chinas-evs-jolt-they-need-charge-past-their-rivals https://www.scmp.com/business/china-business/article/3362604/will-new-batteries-give-chinas-evs-jolt-they-need-charge-past-their-rivals Mon, 03 Aug 2026 02:00:14 +0000 Themis Qi Themis Qi Competition among Chinese energy-storage firms is intensifying in the Middle East, as a massive deal that was expected to go to global electric vehicle (EV) battery king Contemporary Amperex Technology Ltd (CATL) was ultimately won by BYD and Sungrow Power Supply. Shenzhen-headquartered BYD, which makes EVs and batteries, announced early this month that it would provide 11.275 gigawatt-hours (GWh) of energy storage to Round-The-Clock (RTC), a solar project being built by United Arab Emirates... https://www.scmp.com/business/climate-and-energy/article/3362085/catl-byd-battle-supremacy-middle-east-energy-storage-market https://www.scmp.com/business/climate-and-energy/article/3362085/catl-byd-battle-supremacy-middle-east-energy-storage-market Tue, 28 Jul 2026 06:00:13 +0000 Huizhao Huang Huizhao Huang China is building more wind and solar capacity than the rest of the world combined, but transmission bottlenecks risk prolonging its reliance on coal, according to a report published on Tuesday by Global Energy Monitor (GEM). More than 500 gigawatts (GW) of China’s planned 1,360GW of utility-scale wind and solar projects were under construction, enough to put the country on track to meet its 2030 target to have wind and solar account for more than half of its installed power capacity by the end... https://www.scmp.com/economy/china-economy/article/3361467/chinas-power-grid-no-longer-keeping-pace-green-energy-capacity-study-says https://www.scmp.com/economy/china-economy/article/3361467/chinas-power-grid-no-longer-keeping-pace-green-energy-capacity-study-says Thu, 23 Jul 2026 03:00:11 +0000 Themis Qi,Julie Zhang Themis Qi,Julie Zhang China’s two largest lithium producers saw their shares dip even as they are set to report soaring first-half earnings, with profits projected to surge by as much as 50 times on the back of global demand for energy independence. Tianqi Lithium estimated net profit of between 2.85 billion yuan (US$420 million) and 4.25 billion yuan for the six months ended June 30, a year-on-year jump of between 3,276 per cent and 4,935 per cent, according to a filing with the Shenzhen Stock Exchange on Tuesday... https://www.scmp.com/business/commodities/article/3360563/chinas-top-lithium-firms-project-50-fold-profit-surge-amid-energy-transition-boom https://www.scmp.com/business/commodities/article/3360563/chinas-top-lithium-firms-project-50-fold-profit-surge-amid-energy-transition-boom Wed, 15 Jul 2026 00:00:16 +0000 Sylvia Ma Sylvia Ma China’s power exports to Asean countries surged more than 40 per cent in the first half of the year, customs data showed, helping to buffer the region against volatility in energy markets triggered by tensions around the Strait of Hormuz. The increase also highlighted China’s growing role as a regional energy supplier at a time when geopolitical tensions have renewed concerns over energy security. China exported 2.39 billion kilowatt-hours of power to the Association of Southeast Asian Nations... https://www.scmp.com/economy/global-economy/article/3360517/chinas-power-exports-asean-surge-40-first-half-2026-amid-hormuz-tensions https://www.scmp.com/economy/global-economy/article/3360517/chinas-power-exports-asean-surge-40-first-half-2026-amid-hormuz-tensions Tue, 14 Jul 2026 11:00:08 +0000 Themis Qi Themis Qi The president of Chinese electric vehicle (EV) maker Xpeng said the company aims to challenge Tesla in international markets, having tested its self-driving technology in the fiercely competitive home market. “We are very confident that we can be head-to-head competitors with Tesla,” said Brian Gu Hongdi, vice-chairman and president at Xpeng, in an interview with the South China Morning Post. Though admitting the US carmaker’s edge as an early entrant in some European markets, Gu noted that... https://www.scmp.com/business/china-evs/article/3360305/how-xpeng-will-take-tesla-chinese-carmakers-drive-overseas-ev-competition https://www.scmp.com/business/china-evs/article/3360305/how-xpeng-will-take-tesla-chinese-carmakers-drive-overseas-ev-competition Mon, 13 Jul 2026 05:00:06 +0000 Frank Chen Frank Chen China’s domestic design is fuelling a nuclear reactor-building spree in the country’s largest provincial economy of Guangdong, with a new Hualong One reactor counting down to entering commercial operation this week ahead of peak demand for electricity this summer. China General Nuclear Power Group (CGN) announced that the No. 2 reactor of the Taipingling Nuclear Power Plant, located less than 100km from Hong Kong in Huizhou, had been plugged into the grid on Saturday. Many of Guangdong’s nuclear... https://www.scmp.com/economy/china-economy/article/3359589/chinas-latest-nuclear-reactor-goes-live-first-greater-bay-area-hualong-one-tech https://www.scmp.com/economy/china-economy/article/3359589/chinas-latest-nuclear-reactor-goes-live-first-greater-bay-area-hualong-one-tech Mon, 06 Jul 2026 09:03:33 +0000 Themis Qi Themis Qi Chinese carmakers are taking market share away from Japanese rivals in western Europe, pushing the latter’s share to its lowest level in four decades. But uncertainties over European tariff policies could weigh on exports from the world’s second-largest economy, analysts said. Since the end of last year, Chinese electric vehicle (EV) manufacturers – from giant BYD to start-up Leapmotor – have stepped up efforts to boost overseas sales amid weakening domestic demand and Beijing’s campaign against... https://www.scmp.com/business/china-evs/article/3359461/chinas-carmakers-are-rewriting-europes-auto-hierarchy-japanese-rivals-lose-ground https://www.scmp.com/business/china-evs/article/3359461/chinas-carmakers-are-rewriting-europes-auto-hierarchy-japanese-rivals-lose-ground Sun, 05 Jul 2026 23:30:07 +0000 Themis Qi Themis Qi Beijing’s campaign to curb disorderly low-price market competition – neijuan in Chinese or involution – has reached the energy storage sector, with new rules shortening payment cycles and the financial pressure expected to ripple through leading players. A payment cap, released by the China Automotive Battery Innovation Alliance (Cabia) and the China Energy Storage Alliance on Monday, covers both electric vehicle (EV) and energy storage batteries and aims to build a mutually beneficial... https://www.scmp.com/business/climate-and-energy/article/3358856/energy-storage-sector-tested-china-sets-60-day-payment-cap-anti-involution-campaign https://www.scmp.com/business/climate-and-energy/article/3358856/energy-storage-sector-tested-china-sets-60-day-payment-cap-anti-involution-campaign Tue, 30 Jun 2026 06:00:08 +0000 Zhu Wenqian Zhu Wenqian Brazil wants to deepen its cooperation with China and explore ways to expand financing solutions and scale-up green investments to accelerate the South American country’s transition to a low-carbon economy, Brazilian Finance Minister Dario Durigan said in Beijing on Thursday. “We must build long-term partnerships that generate local value, reinforce productive capacities, accelerate technological progress, and contribute to global climate goals,” Durigan said in remarks to a green finance round... https://www.scmp.com/business/climate-and-energy/article/3358361/brazil-eyes-deeper-china-ties-boost-green-investments-and-aid-low-carbon-transition https://www.scmp.com/business/climate-and-energy/article/3358361/brazil-eyes-deeper-china-ties-boost-green-investments-and-aid-low-carbon-transition Thu, 25 Jun 2026 10:38:28 +0000 Themis Qi Themis Qi China’s Contemporary Amperex Technology Ltd (CATL), the world’s top lithium-ion battery maker, plans a major boost in production of sodium-based cells, a move that will help it navigate volatility in material prices while affecting both the electric vehicle (EV) and grid-storage sectors. The company’s planned annual production of 200 gigawatt-hours (GWh) of sodium-ion cells would represent nearly three times last year’s global production capacity, which was estimated at 70GWh, according to the... https://www.scmp.com/business/climate-and-energy/article/3358074/chinas-catl-bets-big-sodium-ion-batteries-navigate-lithium-price-volatility https://www.scmp.com/business/climate-and-energy/article/3358074/chinas-catl-bets-big-sodium-ion-batteries-navigate-lithium-price-volatility Tue, 23 Jun 2026 10:00:55 +0000 Themis Qi Themis Qi The lingering energy shock is driving overseas orders for China’s energy storage companies, with more than 25 gigawatt-hours (GWh) of capacity to be built in the US and European countries. The global demand for energy storage facilities has been driven by disruptions to oil and gas supply chains stemming from the Middle Eastern conflicts and the urgent need by developed markets to upgrade ageing grids, according to Matty Zhao, co-head of China equity at BofA Global Research. Regardless of the... https://www.scmp.com/business/climate-and-energy/article/3357768/energy-security-fears-drive-global-surge-orders-chinese-storage-firms https://www.scmp.com/business/climate-and-energy/article/3357768/energy-security-fears-drive-global-surge-orders-chinese-storage-firms Sun, 21 Jun 2026 07:00:05 +0000 Themis Qi,Daniel Ren Themis Qi,Daniel Ren On a sunny morning in late May, a massive laboratory designed to create extreme conditions – from melting heat to bone-cracking cold, howling sandstorms, corrosive ocean spray and even fire – officially opened in the coastal city of Xiamen, in eastern China’s Fujian province. Equivalent in size to 14 football pitches, the 3 billion yuan (US$444 million) facility will throw everything it has at battery-based energy-storage systems built by Chinese manufacturers, testing the equipment’s mettle... https://www.scmp.com/business/china-business/article/3357558/energy-storage-chinas-battery-power-sets-stage-global-leadership https://www.scmp.com/business/china-business/article/3357558/energy-storage-chinas-battery-power-sets-stage-global-leadership Fri, 19 Jun 2026 22:00:12 +0000 Djoomart Otorbaev Djoomart Otorbaev The recent escalation in the Middle East has produced an unforeseen winner. The conflict has rekindled worries about logistics and energy security, prompting governments and businesses to reconsider their reliance on fossil fuels and fragile supply routes. This has sped up the move towards renewable energy. And the principal beneficiary of this shift is China. The strategic significance of the Strait of Hormuz is well understood. Roughly one-fifth of the world’s oil trade passes through this... https://www.scmp.com/opinion/china-opinion/article/3356958/geopolitics-complicating-green-transition-and-chinas-moment https://www.scmp.com/opinion/china-opinion/article/3356958/geopolitics-complicating-green-transition-and-chinas-moment Wed, 17 Jun 2026 08:30:06 +0000