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BEIJING - The Chinese government''s work report for this year has, for the first time, highlighted the acceleration of hydrogen energy development, marking its debut as a pioneering industry in the report. "This inaugural inclusion of the hydrogen energy sector in the government work report as a leading-edge industry underscores a
I. Major Targets for 2024: - GDP growth of around 5%. - Over 12 million new non-farm jobs. - Consumer price index increase of around 3%. - Grain production of over 650 billion kilograms. - A reduction of approximately 2.5% in energy consumption per unit of GDP. III. Key Priority Areas for 2024: Finance:
The key points are as follows: A review of government work in 2023. Gross domestic product (GDP) increased by 5.2 percent. Grain output reached a record of 695 million metric tons. 12.44 million urban jobs were added. Additional tax and fee relief measures resulted in savings exceeding 2.2 trillion yuan. China accounted for over 60
Guangdong province announced in its government work report this year that it will accelerate the planning of pumped-storage hydroelectricity projects and the
With its construction permit obtained on Monday, US electric vehicle maker Tesla''s energy storage project in Lin-gang, eastern Shanghai — the first of its kind outside the United States — is expected to break ground this month and enter mass production in the first quarter of 2025. The news was announced on Monday on the official WeChat
China''s annual "Two sessions" – an important political gathering which ended on 11 March 2024 – is closely watched as it gives an indication of China''s broad policy direction for the year, covering topics from the economy through industrial strategy to
In accordance with the Hong Kong''s Climate Action Plan 2050 promulgated in October 2021, the Government is grappling with Hong Kong''s geographical and environmental
All provincial-level regions have now unveiled their growth targets for 2024 in government work reports delivered to people''s congresses. Their 2024 GDP growth targets vary from 4.5 percent to 8 percent, with the majority expecting to expand their economy by over 5 percent. Closely-watched economic indicators aside, their documents
The installed capacity of new energy storage projects that were put into operation during the first half of this year in China has reached 8.63 million kilowatts,
Over 12 million jobs are expected to be created in urban areas in 2024 with a surveyed urban unemployment rate target of around 5.5 percent. A total of 3.9 trillion yuan (about $542 billion) of special-purpose bonds for local governments will be issued in 2024, 100 billion yuan more than last year, the report added.
"The Future of Energy Storage," a new multidisciplinary report from the MIT Energy Initiative (MITEI), urges government investment in sophisticated analytical tools for planning, operation, and regulation of electricity systems in order to
In 2024, new energy storage was written into the "Government Work Report" for the first time, which the industry regarded as a major positive news. Over the
China''s foreign trade expanded 8.7 percent year-on-year to 6.61 trillion yuan in the first two months of 2024, In the government work report, there was a notable emphasis on accelerating the development of new quality productive forces as part of
The nation''s energy storage capacity further expanded in the first quarter of 2024 amid efforts to advance its green energy transition, with installed new-type
Image: ESA via Twitter. The US national Energy Storage Association (ESA) has adopted a goal for the deployment of 100GW of new energy storage using a range of technologies by 2030, updating a previously set 35GW by 2025 target. The trade group, which has nearly 200 industry stakeholder members, launched a ''vision paper''
The UK government must kick-start the construction of large-scale hydrogen storage facilities if it is to meet its pledge that all electricity will come from low carbon sources by 2035 and reach legally binding net zero targets by 2050, according to a report by the.
The government work report, delivered by Premier Li Qiang, was adopted on March 11 at the second session of the 14th National People''s Congress. The report
This year''s Chinese government work report proposed accelerating the development of hydrogen energy, mentioning this cutting-edge emerging industry for the
Among those, lithium-ion battery energy storage took up 94.5 percent, followed by compressed air energy storage at 2 percent and flow battery energy storage at 1.6 percent, it said. Besides Inner Mongolia, Shandong, Guangdong and Hunan provinces as well as the Ningxia Hui autonomous region are areas ranking in the first-tier group for
Work Hard to Promote High-quality Development in 2024. The main projected targets are as follows: GRP growth of around 5.5%; Around 5% increase in fixed asset investment; Around 6.5% increase in total retail sales of consumer goods; Export growth of around 5.5%; A surveyed urban unemployment rate of around 5.5%;
KOHEI FUJIMURA, SHUNSUKE TABETA and IORI KAWATE, Nikkei staff writers March 6, 2024 04:41 JST. BEIJING -- China''s leadership emphasized national security based on political stability and economic
China will advance the energy revolution and actively and prudently work toward peaking carbon dioxide emissions and achieving carbon neutrality, according to
The government work report was adopted on March 13 at the first session of the 14th National People''s Congress. The report comprises two parts: I. A Review of Our Work in 2022 and over the Past
This year''s Government Work Report, delivered during the two sessions, also emphasized that efforts should be made to move faster to develop a new energy system, promote the efficient and intensive use of resources, and advance energy
BEIJING -- The following are the highlights of the Chinese government work report submitted Tuesday to the national legislature for deliberation. - China targets economic growth of around 5 percent in 2024 ( See more) - China pledges proactive fiscal policy, prudent monetary policy in 2024 ( See more) - China aims to create over 12 million
As of the end of 2022, the total installed capacity of energy storage projects in China reached 59.4 gigawatts, with pumped storage taking up to 77.6 percent and new energy storage accounting for 22.4 percent, according to the National Energy Administration. According to the NEA, the total installed capacity of new types of energy
New Energy Storage Investment Shouldn''t Focus Solely on Policy Incentives. published:2024-05-22 17:36 Edit. In 2024, new energy storage was written into the "Government Work Report" for the first time, which the industry regarded as a major positive news. Over the past year, the domestic new energy storage industry has been
BEIJING, March 12 -- The Report on the Work of the Government was released in full via Xinhua News Agency on Tuesday. The government work report, delivered by Premier Li Qiang, was adopted on March 11 at the second session of the 14th National People''s Congress. The report comprises three parts: I. A Review of Our Work in 2023.
In 2024, it is the first time for''new energy storage'' to appears in the government''s work report, and the development of the industry will usher in a historic moment. The cumulative installed capacity of new energy storage is likely to overtake pumped storage as the largest form of energy storage and will become the largest form
According to a report recently issued by China Energy Storage Alliance, the world''s newly installed capacity of new energy storage reached a record high of 45.6 million kW in 2023. China, Europe, and the United
At this year''s National Two Sessions, new energy storage was included in the government work report for the first time. As an important technology combination for building a new power system, new energy storage technology effectively solves the problem of mismatch in time and space between energy production and consumption,
Premier Li Qiang''s Government Work Report highlighted stabilizing foreign trade and boosting exports of electric vehicles, lithium batteries, and photovoltaic
This was the first time the hydrogen energy industry was included in a government work report as a cutting-edge emerging sector, further consolidating confidence in hydrogen energy, Lu Bingbing, general manager at Shanghai Hydrogen Propulsion Technology
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