Citi is optimistic about China's clean energy market, coal consumption will only account for 15% in 2060

 

Have your car license plates changed to green ones? But clean energy is already on the agenda.

October 18, CNBC said Citibank recently released announcement that optimistic about country's new energy markets. The report pointed out that, in the long run, China’s efforts to reduce carbon emissions may benefit companies in the renewable energy sector-solar and wind energy-related companies should be the biggest beneficiaries of China’s transition to clean energy; in addition, investment The party favors natural gas distributors, electric vehicle manufacturers and certain related industrial entities.

As the demand for "traditional energy types" products and services declines, coal-fired generators, oil producers, coal-fired power generation equipment companies, and companies involved in railway transportation related to the coal and petroleum industries will become major losers. Based on this, the analyst listed five companies that should be "buy": Xinyi Glass, Goldwind , ENN Energy , BYD, and Ganfeng Lithium ; and also suggested several companies that should be "sold": China Shenhua, China Resources Power , Dongfang Electric , Daqin Railway.

Source CNBC

According to the 2020 "BP World Energy Statistical Yearbook", China is the largest energy development engine, accounting for more than three-quarters of the net global growth. At the same time, China is also the country with the largest contribution to new energy consumption (0.8EJ), followed by The United States (0.3EJ) and Japan (0.2EJ).

Looking back on the past ten years, China Coal Market.com reported that although raw coal production began to decline in 2014 and reached the lowest value of 3.411 billion tons in 2016 in 2016 , raw coal production began to resume growth in 2017, and production in 2019 was roughly the same as 2014. 68.8% of the production structure. Despite the slight fluctuations in production , the proportion of new energy consumption in China has shown an upward trend year by year, from 13% in 2011 to 23.4% in 2019. At the same time, the proportion of coal consumption in total has been declining year by year. This dropped from 62.9% in 2010 to 59% in 2019.

According to CNBC, by 2060, coal consumption in my country may only account for 15% of total energy consumption, and natural gas and renewable energy may account for the main part of energy consumption.

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