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  • Jan 18th, 2010
  • Comments Off on Investments in China’s coal and oil industry up 17 percent
Fixed-asset investments in China's electricity, coal and oil industry rose 17 percent in the first 11 months of 2009 to 1.4 trillion yuan ($205.1 billion), the official Xinhua news agency said on Sunday, quoting China's energy chief.

Zhang Guobao, head of the National Energy Agency, also said energy consumption in the first 15 days of this year is at 12 billion kilowatt hours compared with 11 billion kilowatt hours in November last year.

"The is the strong evidence for China's quick economic recovery," Zhang was quoted as saying. Zhang also said that 1,000 small coal mines were closed last year and the new generating capacity of China's hydropower and wind power accounted for 32.3 percent. China plans to shut small coal-fired power plants with a combined 10 million kilowatt (KW) power generating capacity in 2010.

China aims for renewable energy sources to make up 15 percent of power generation by 2020, up from about 9 percent currently.

Copyright Reuters, 2010


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