Translated by: MOS Finance Team – Xia
The Guardian (Oct. 1) reports – The Chinese Communist government has ordered the largest state-owned energy companies to ensure winter fuel supplies at all costs.
Chinese Vice Premier Han Zheng instructed energy companies to ensure there is enough fuel to keep the country running and made it clear that the government would not tolerate power outages.
Chinese communist country continues to be hit by power outages, and many factories have been closed or semi-closed, severely affecting production and the global supply chain.
Data released Thursday showed a weaker-than-expected recovery in manufacturing in China in September, unexpectedly contracting for the first time since the Covid epidemic in February last year.
The report said Han Zheng gave the instructions at an emergency meeting this week with officials from Beijing’s state-owned assets regulator and economic management agency.
On September 28, the State Grid immediately made an urgent appeal to “guard the lifeline of grid safety and ensure the bottom line of people’s livelihood”. Related reports flooded the media in China.
The urgency and forcefulness of his attitude verifies Mr. Miles Guo’s information that the Chinese Communist Party is short of foreign currency and cannot afford to continue importing energy-related raw materials. Instead of the so-called “emissions and energy control” as analyzed by domestic and foreign media.
It was also reported that the Chinese communist country is paying the highest price ever for the most polluting type of coal. Prices for various types of lignite in Indonesia soared to $110-120 per ton this week from $20-25 last year due to rising demand from the Communist country.
The Communist Party’s power crunch prompted Nomura and Goldman Sachs to cut their growth forecasts for the Communist Party this year this week.
Coal futures in China surged to a new record high on Thursday. Power shortages in China will have catastrophic consequences for the general public, especially in the cold northern regions.
(This article represents the views of the author only)
- China orders energy firms to secure winter fuel supplies at all costs | Chinese economy | The Guardian
- Even the dirtiest coal is surging due to China’s power crunch (houstonchronicle.com)
中共政府命令能源公司不惜一切代价确保冬季燃料供应 – GNEWS
Proofread/Posted by: Xiaolunn
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