China’s leaders want to lift the gray blanket of deadly smog that often chokes Beijing’s residents by shifting power plants to the less populated western part of the country inhabited by minorities. That’s turning into a nightmare for Ani Yetahon who lives in Oriliq, a village about 1,800 miles from the capital where some residents still walk to the well for their water.
China, already the world’s biggest wind-power market, gave conditional approval for construction of 27.6 gigawatts of new projects. That would increase the country’s installed capacity about 36 percent if all were built.
The gap in reported economic output between China’s provinces and national statistics narrowed for the first time in six years as Communist Party leaders vowed to reduce the focus on growth in evaluating local officials.
Goldpoly New Energy Holdings Ltd., a Hong Kong-based solar power project developer, agreed to buy stakes in four projects in Inner Mongolia with a combined capacity of 195 megawatts for 304.6 million yuan ($50.2 million).
China’s stocks fell for a third day, led by industrial and technology companies, amid concern new share offerings will divert funds. The benchmark index posted its steepest five-day loss in three weeks.
Inner Mongolia Baotou Steel Rare- Earth Hi-Tech Co., China’s biggest producer, gained the most in a month in Shanghai after its parent signed restructuring agreements with nine other companies in the region.
Shunfeng Photovoltaic International Ltd., the solar manufacturer that surged 17-fold in market value last year, plans to invest about 25 billion yuan ($4.1 billion) to develop its own solar projects this year.
China’s Inner Mongolia Autonomous Region said it will take measures to improve the mining industry, part of new rules following protests by ethnic Mongolians sparked when a coal truck ran over a herdsman.