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China Market Insider Paradigm Shift: Climate Protection Prioritized Over Construction of New Chemical Plants
Construction work on the largest coal chemical plant on earth has just been suspended in the Shaanxi province, reports the business magazine Caixin. In Inner Mongolia, another province with many coal-chemical projects, new approvals have also recently become more difficult, the magazine reports. Across the country, not only large-scale coal chemical projects but also petrochemical projects are falling victim to the axe of the newly strengthened climate change activists.
Beijing/China – A key target of emission commissioners at the moment is clearly the production of ethylene and similar feedstocks from coal. "Coal chemical project suspended due to its insatiable appetite for energy," read the Caixin headline about the freezing of the mega-project in Shaanxi.
In the course of China's efforts to reduce its energy consumption and achieve its ambitious climate protection targets, the coal-fired ethylene production project set up by the state-owned ‘Shaanxi Coal’ and the ‘Chemical Industry Group’ in the town of Yulin in the northwest province of Shaanxi had already been suspended on July 2, the respected business magazine reported.