With a domestic glut, China is bankrolling coal projects abroad — even as the rest of the world cuts back and China pledges to go carbon neutral.
An artist's rendering of the Emba Hunutlu coal plant Credit: EMBA
In Turkey, on the northeastern edge of the Mediterranean, a massive effort is underway to build a 1,320-megawatt coal power plant. The Emba Hunutlu power station, according to activists working to halt its construction, will pollute the air and destroy the habitat of a nationally protected sea turtle species. What’s more, once the project is finished, the rising price of coal might prevent it from ever becoming economically viable.
Nevertheless, three Chinese state banks — the China
Exclusive longform investigative journalism, Q&As, news and analysis, and data on Chinese business elites and corporations. We publish China scoops you won't find anywhere else.
A weekly curated reading list on China from Andrew Peaple.
A daily roundup of China finance, business and economics headlines.
We offer discounts for groups, institutions and students. Go to our Subscriptions page for details.
Walmart should be in trouble in China, where its competitors are in retreat and its sourcing operations have been criticised by both Beijing and Washington. But the American retailer seems to have found a way forward in a difficult sector and remains one of the biggest benefactors of China-U.S. trade.
The Commerce Department wants to expand export controls to majority-owned subsidiaries of Chinese companies. That could trigger cascading effects — and challenges.
Navigate China's Business Landscape with Confidence.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OKPrivacy policy