China’s state planner calls for more investment to help support energy transition

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China’s state planner has called for more investment in equipment upgrades to help support the energy transition, saying the market should play a leading role. A Wednesday notice issued by the National Development and Reform Commission calls for a 25 per cent increase in investments to upgrade China’s energy equipment from 2023 to 2027. The investments will support a program of equipment upgrades and consumer goods trade-ins launched by China’s cabinet in March, the notice said. That program seeks to boost investment and consumption amid a shaky economic recovery. The energy upgrade plan calls for investment in areas including energy...