UNITED NATIONS, Sept 21 (Reuters) - Chinese leader Xi Jinping said on Tuesday that China would not build new coal-fired power projects abroad, using his address at the United Nations General Assembly to add to pledges to deal with climate change.
Toyoven Song Hau should be private initiative, considered a Malaysian project joint venture project with China corporation, will it be affected as formal agreement not announced yet.
If business contract already signed and money already spent, it should be considered an existing and continued. Only new projects that have not started anything yet should be considered as new. This is a general principle and should be applied to all countries. Otherwise who want to do business with you in future...
Likely Song Hau 2 will be the last one. No one can blame China for the coal project where agreement already signed, only new one where no money spent should not start.
Just my view only. Share price already plunged... Hopefully company can clarify this
Whether CECC or any other company agree to finance, profits will be huge because the cost of coal will be very much cheaper. Very tempting don't ypu think?
President Xi administration just need to define what is new project and what is existing project as what he said is without details. China just need to follow strictly on the definition of new and non new project will do.
CECC will have to "kowtow" Emperor Xi directive lah. CECC control by Party lo...
if groundworks have started by CECC.....then can consider existing lo..
Even if CECC have pay the deposit but the money still held by China Bank lah..... All China oversea project are handle by own China Bank for finance lo...
pay deposit doesn't mean really it is in Toyo Bank lah...
Not all climate experts are so confident. That’s because Xi’s promise, made during a speech Tuesday at the U.N. General Assembly, was brief and has not yet been translated into concrete policy.
Xi’s speech did not specify when Beijing would stop building coal power plants overseas. He also did not say whether the new rules would apply immediately or be phased in. Those factors could be crucial for many China-funded coal projects currently underway, since the plants typically have a lifespan of several decades.
“The Chinese government will face a lot of resistance within China from coal interests opposed to restrictions on their market,” says Christine Shearer, program director for coal at Global Energy Monitor, which documents fossil fuel projects worldwide. “However, we also know that when the Chinese government decides to do something, it can do it more swiftly and broadly than most countries in the world.”
“However, we also know that when the Chinese government decides to do something, it can do it more swiftly and broadly than most countries in the world.”
(1) Jack Ma under intense RE-education.....Done (2) Donation aka WindFall Tax aka Malaysia Version from TenCent....AliBaba.....Done (3) As per his UN speech to stop building coal power plant......Done ( now is to Walk the Talk )
Hail Emperor Xi..... Basically all companies at China is answerable to Emperor Xi lah... Respect lah Emperor Pooh Xi...
No one know, including toyo on details of president Xi brief address in UN. All are awaiting for formal dpolicy on coal financing with details latter on.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Bgt 9963
7,445 posts
Posted by Bgt 9963 > 2021-09-06 15:19 | Report Abuse
See money take money..!