Global energy crisis overshadows green transformation

After the crisis disrupted production in nearly a hundred factories in China, especially in energy-intensive sectors, Chinese authorities instructed state-owned energy companies to "provide the energy supply at all costs", while fossil fuels' electricity generation also undermined their ambitious green transformation goals in Europe and all over the world. started to increase. The demand for coal producers, who currently produce about 70 percent of electricity production in China, to increase production as winter approaches, came from the country's Deputy Prime Minister, Han Zheng, responsible for the energy sector.

China Energy Investment Corp, the country's largest coal miner, announced on its WeChat account that "the company will do its best to increase its energy supply and provide the needed supply." The head of the company, Wang Ziangxi, said that they will make every effort to increase production in the 4th quarter by producing at full capacity. State Power Investment Corp, which operates in the Inner Mongolia Autonomous Region, said that "they will start production at full capacity to supply coal supply to northeast China, and that electricity generation and heating are very important for the livelihood of citizens." The US investment bank recently reduced its 2021 economic growth forecast for China from 8.2 percent to 7.8 percent due to energy bottlenecks.