16 Projects Signed at Investment Promotion Forum in Ningxia, China

Published on: 21 August 2022
by KnowESG
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At an investment promotion meeting in northwest China's Ningxia Hui Autonomous Region, sixteen cooperation projects worth a total of 2.43 billion yuan (about 357 million US dollars) were signed.

The agreements, which include new energy, the petrochemical industry, sewage treatment, manufacturing, and other areas, were signed on Thursday in Yinchuan, the regional capital.

The gathering was attended by more than 60 representatives from 25 multinational corporations, foreign chambers of commerce, embassies and consulates in China.

Ningxia has a large energy industry, but it has to be leveraged for more international cooperation, according to Xu Zhonghua, national chair of the European Union Chamber of Commerce in China's energy working group.

He applauded Ningxia for its efforts to reduce carbon emissions and conserve the ecology along the Yellow River.

Ningxia, a key Chinese power supplier, has been transitioning from a coal-dominated energy structure to a more green, sustainable one, relying on its substantial solar and wind resources.

Green energy, including hydrogen, solar, and wind energy, accounted for 25.6 per cent of Ningxia's total power supply of 73.5 billion kWh in the first half of the year.

Green power installed capacity in Ningxia expanded from 850,000 kilowatts to 25.74 million kilowatts over the last decade, accounting for around 40% of total installed capacity.

Source: Xinhuanet

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