Today my speech at the China Outlook 2020 Conference of the European Chamber of Commerce in Shanghai. We talked about China’s economic outlook, trade war and business prospects. Here are my six bullets:
China aims to optimize the structure of its coal production by reducing outdated capacity. Total coal output will stand at about 3.9 billion tons in 2020, compared with 3.75 billion tons in 2015, while China will consume 4.1 billion tons of coal, up from 3.96 billion tons in 2015. I think it is a good step to reach the double objectives of: 1) Reduce of the capacity. 2) Move to clear energy sources. Still even consider this reduction of 2020 objective, coal energy production still represent a large proportion of overall energy sector, so still more needs to be done.