Huatai Securities: Carbon Reduction Renovation Campaign Opens Up Green Electricity Demand Space
China's National Development and Reform Commission has issued a notice, referred to as Document 698, to accelerate energy conservation and carbon reduction efforts in key industries. By the end of 2028, industries such as steel, aluminum, cement, and petrochemicals are expected to significantly improve their energy efficiency, aiming for a substantial reduction in carbon emissions. This initiative includes policy incentives like electricity price adjustments, subsidies, and carbon quotas to drive economic viability for green energy solutions and green fuels. AI