Chinese President Xi Jinping has announced a $20 million contribution to the United Nations Conference on Trade and Development (UNCTAD) over the next five years, according to a report by China Global Television Network (CGTN). This pledge was made during a video speech given by President Xi at the opening ceremony celebrating UNCTAD’s 60th anniversary.
In his address, Xi emphasized that this contribution is aimed at supporting the implementation of the UN’s 2030 Agenda for Sustainable Development, ensuring that no country is left behind.
Growth in China’s natural gas consumption
Official data shows that China’s natural gas consumption saw strong growth in the first four months of 2024, as the country intensified its green development efforts. The apparent natural gas consumption during this period totaled 143.73 billion cubic meters, up 11.9 percent year-over-year. In April alone, consumption rose by 11.8 percent compared to the same period last year, reaching 35.46 billion cubic meters, according to the National Development and Reform Commission (NDRC).
China also produced 83 billion cubic meters of natural gas in the January-April period, an increase of 5 percent from the previous year, as reported by the National Bureau of Statistics. China’s natural gas imports also grew, reaching 43 million tons in the same period, up 20.7 percent year-over-year.
World’s largest solar plant connected to grid
In June, one of China’s state-owned companies announced that it had connected the world’s largest solar plant to the grid in northwestern Xinjiang. This solar plant has a capacity of 5 gigawatts and spans an area of 200,000 acres in a desert area near the capital Urumqi, according to a statement from China’s State-owned Assets Supervision and Administration Commission (SASAC).
China’s leadership in affordable EVs
Furthermore, a recent study highlighted that China is leading the charge in providing affordable electric vehicles (EVs), backed by government support and a wide range of low-cost options. In the first quarter of 2024, China saw a battery-electric vehicle (BEV) penetration rate of 25 percent, showcasing rapid adoption driven by low manufacturing costs and strong government incentives, despite a global slowdown in the EV transition, as reported by S&P Global Ratings and S&P Global Mobility.
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