The Chinese authorities have ordered major state-owned energy companies to ensure the availability of sufficient quantities of fuel with the approach of winter, according to press reports yesterday, as the country faces power outages that threaten to negatively affect growth in the second largest economy in the world. The latter, by closing many factories, either completely or partially, which affected production and global supply chains.
This crisis is due to a series of factors, including an increase in global demand for energy resources with the revitalization of the economic cycle, record prices for coal at the local level, state controls on electricity prices and emissions reduction goals. In the past months, more than ten provinces and regions have had to impose restrictions on energy consumption to lighten the loads.
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