With the recent outbreak of the Coronavirus, which originated in Wuhan, China, and spread so rapidly that the World Health Organization (WHO) has declared it a global health emergency, many economists are pessimistic about the status of the international economy for this year.

Just a couple of days before the national Chinese New Year celebrations, the Ministry of Finance (MOF), NDRC and NEA have jointly released an announcement on non-hydro renewable power development, reaffirming that all current and new subsidized projects under the Renewable Energy Development Fund should fit within the current REDF budget (meaning that there would be no immediate increase in renewable energy surcharges collected from end users which constitute the pool of funding for the REDF, nor any injection of capital in the REDF budget).

2020 is the transitional year for China’s next five-year-plan (FYP) period (2021-2025).

On January 11, China Huaneng Group held its Second-Term Staff Representative Conference and 2020 Working Meeting, where Chairman and Party Secretary Shu Yinbiao announced the group’s record-high 2019 renewables new installed capacity of 5.02GW, which is four times its 2018 level.

According to latest news released by the National Bureau of Statistics on January 17, the total electricity power generation in 2019 was 714.2TWh, an increase of 3.5% from 2018.

According to the 2019 Energy Development Report, Henan has shut down 1,680MW of thermal plants and added 3,000MW of renewable energy installed capacity in the single year.