Reuters - Video

Edition: US | UK | IN | CN | JP

video Business

What to watch on Wall Street next week
What to watch on Wall Street next week - 01:00
Wall Street ekes out gains
Wall Street ekes out gains - 01:29
Powell keeps Wall St. rate cut hopes intact
Powell keeps Wall St. rate cut hopes intact - 01:47
Wage growth lowers recession risks
Wage growth lowers recession risks - 04:07
Breakingviews TV: Hong Kong hit
Breakingviews TV: Hong Kong hit - 03:34
New factory: Louis Vuitton beats trade war blues
New factory: Louis Vuitton beats trade war blues - 01:35
Hiring slowdown extends into August
Hiring slowdown extends into August - 01:41
Facebook hit with another antitrust probe
Facebook hit with another antitrust probe - 01:10
At Europe tech show, Huawei stays defiant
At Europe tech show, Huawei stays defiant - 01:24
U.S. congressional probe finds possible lapses in Deutsche Bank controls - sources
U.S. congressional probe finds possible lapses in Deutsche Bank controls - sources - 01:16
Trade wars to trim billions in U.S. GDP -Fed paper
Trade wars to trim billions in U.S. GDP -Fed paper - 01:30
Wall Street back in rally mode
Wall Street back in rally mode - 01:10
High stock prices are justifiable - Felton
High stock prices are justifiable - Felton - 03:41
Slack shares stumble after dismal outlook
Slack shares stumble after dismal outlook - 01:12
Breakingviews TV: We overdid it
Breakingviews TV: We overdid it - 03:40
Johnson's brother quits as election campaign kicks off
Johnson's brother quits as election campaign kicks off - 01:55
WeWork weighs slashing valuation
WeWork weighs slashing valuation - 01:04
As Porsche jumps in, fresh signs that electric autos are on the rise
As Porsche jumps in, fresh signs that electric autos are on the rise - 01:15
Recession risks rise for Germany as industrial orders plunge
Recession risks rise for Germany as industrial orders plunge - 01:33
Samsung tries again with its folding phone
Samsung tries again with its folding phone - 00:58

China to place $361bln bet on renewables

Thursday, January 05, 2017 - 01:39

China will plough 2.5 trillion yuan ($361 billion) into renewable power generation by 2020 in an investment that will, it's projected, create a massive 13 million jobs in the sector. Samantha Vadas reports.

▲ Hide Transcript

▶ View Transcript

After weeks of choking beneath scummy skies ... China could breathe a sigh of relief on Thursday. The National Energy Administration saying it'll pour an eye-popping 361 billion dollars into renewable energy by 2020 - A clear sign of Beijing's shift away from dirty coal power as it ramps up its war on pollution... As Reuters Chief Commodities Correspondent in China, Josephine Mason, explains. (SOUNDBITE) (English) CHIEF INVESTMENT OFFICER, CCLA INVESTMENT MANAGEMENT, JAMES BEVAN, SAYING: "Northern China and Beijing in particular faces a significant air quality issue. Levels of pollution and toxic smog are high, and China clearly wants to shift away from an over-reliance on dirty coal power generation to cleaner technologies. " Last China became the world's top solar generator. Beijing says solar power will get the lion's share of the money - with a whopping 145 billion dollars. Some 100 billion will also be set aside for windfarms, 70 billion to hydro ... While tidal and geothermal projects will get the rest. The massive investment set to be a major employer - against the backdrop of widespread job cuts in heavy industry. (SOUNDBITE) (English) CHIEF INVESTMENT OFFICER, CCLA INVESTMENT MANAGEMENT, JAMES BEVAN, SAYING: "What this will do is lead to greater confidence in the sustainability of China's long-term growth, and a reduction in popular concern that the state was simply ignoring the challenges of toxic smog." Despite the big numbness attached to the renewable project, clean energy will still only account for just 15 percent of consumption by 2020 - An indication of the sheer size of China and the challenge it faces.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Close

China to place $361bln bet on renewables

Thursday, January 05, 2017 - 01:39