Total coal output for China reached 4.5bnt in 2022, up 9% vs last year – making up 50% of global output.
The country faced a power shortage in 2021 and observed how fragile the European system turned out to be in the face of Russia halting natural gas exports.
The government is determined to keep energy prices affordable to promote socio-economic development.
This means that, though renewable power generation is increasing, coal is set to remain the bedrock of the Chinese energy complex.
Source: DBX Commodities