Since June of this year, with the rising price of food crops, fuel ethanol production projects using corn and other raw materials have occupied a lot of food crops. On September 4, the National Development and Reform Commission formally issued the "Mid-term and long-term development plan for renewable energy," which will explicitly develop non-food crops and plants to develop biofuels. On September 20, the National Development and Reform Commission issued an emergency notice on restricting the blind expansion of the corn deep processing industry such as corn ethanol, emergency braking of corn deep processing projects, and major adjustments to the corn deep processing industry policy from encouragement to strict restrictions.
For the above-mentioned new energy policy, market analysts believe that this shows that the country's policy on the development of new energy resources is under pressure. The fuel ethanol project will be limited, while the fuel ethanol technology using cassava, sweet potato, sweet sorghum, etc. as raw materials, and the biodiesel production technology using Jatropha, Pistacia chinensis, tung tree and cottonseed as raw materials will focus on development.
There is pressure on the top and the following adjustments are made immediately. It is understood that three projects of China Agri-Industries Holdings Co., Ltd. that were originally planned to invest a total of 674 million Hong Kong dollars have been halted because they used grain as their raw material. The amount of investment in the two biochemical projects was reduced. Therefore, COFCO has recently decided to revise the use of funds previously raised by some of the funds raised. Some of the original investments related to biofuels and biochemical businesses will be stopped or reduced, and will be invested in projects that are not subject to policy restrictions. The COFCO Group’s announcement stated that it will change the use of net proceeds from biofuels and biochemical businesses and invest in other projects that are not expected to encounter “uncertaintyâ€.
Experts analyzed that the development of new energy industries conforms to national policies. In the context of global energy shortages, companies that can benefit quickly must be companies that have renewable energy projects. In the next three years, China’s wind power and solar equipment manufacturers will face an explosive growth market. Bio-diesel, fuel ethanol, biomass-based power generation listed companies are also expected to become the new darling of the capital market.
However, as a whole, no matter whether it is a guaranteed project or a project that is under pressure, the country still has problems in terms of developing new energy, such as inadequate policies and incentives, weak technology development capabilities, and weak industrial systems. In this regard, Chen Deming, deputy director of the National Development and Reform Commission, said that the Chinese government will mainly take five measures:
First of all, the policy is actively guided. The main implementation of the price policy is to establish a cost-sharing mechanism to share the cost of renewable energy over conventional energy sources across the country. Second, the implementation of fiscal and taxation preferential policies, including subsidies for the establishment of special funds for renewable energy projects, does not exclude tax relief. Third, cultivate the market. Including the force of market share and improvement of the market environment. For example, mandatory promotion of vehicle ethanol gasoline in some areas. Fourth, to strengthen the capacity building for renewable energy development is mainly to increase investment in scientific research and education, and strengthen personnel training. Fifth, strengthen the publicity on the significance of renewable energy and the methods and ways of using it, and increase the awareness of citizens of the entire society on the use of renewable energy.
Shi Dingxi, director of the China Renewable Energy Society, said that with the increasing depletion of oil and other fossil fuels and global warming caused by greenhouse gas emissions, it is not only the world that saves energy, increases energy efficiency, and develops and utilizes renewable energy. The inevitable trend of energy development is also an inevitable choice for China's energy strategy. He said that China's renewable energy has entered a period of rapid development.
Data show that in 2006 China's annual renewable energy use amounted to 200 million tons of standard coal (excluding biomass energy used in the traditional way), accounting for about 8% of total primary energy consumption. According to the "Mid-term and long-term development plan for renewable energy," by 2020 China's renewable energy will account for 15% of total energy consumption. In the next 30 to 50 years, as the demand for energy increases, the proportion of renewable energy in China's energy consumption will continue to expand.
People from the National Development and Reform Commission also stated that according to the plan, by 2010, the development and utilization of renewable energy in the country will be equivalent to 300 million tons of standard coal, and by 2020 it will be equivalent to 600 million tons of standard coal, which will significantly reduce coal consumption. And make up for the lack of natural gas and oil resources.
For the above-mentioned new energy policy, market analysts believe that this shows that the country's policy on the development of new energy resources is under pressure. The fuel ethanol project will be limited, while the fuel ethanol technology using cassava, sweet potato, sweet sorghum, etc. as raw materials, and the biodiesel production technology using Jatropha, Pistacia chinensis, tung tree and cottonseed as raw materials will focus on development.
There is pressure on the top and the following adjustments are made immediately. It is understood that three projects of China Agri-Industries Holdings Co., Ltd. that were originally planned to invest a total of 674 million Hong Kong dollars have been halted because they used grain as their raw material. The amount of investment in the two biochemical projects was reduced. Therefore, COFCO has recently decided to revise the use of funds previously raised by some of the funds raised. Some of the original investments related to biofuels and biochemical businesses will be stopped or reduced, and will be invested in projects that are not subject to policy restrictions. The COFCO Group’s announcement stated that it will change the use of net proceeds from biofuels and biochemical businesses and invest in other projects that are not expected to encounter “uncertaintyâ€.
Experts analyzed that the development of new energy industries conforms to national policies. In the context of global energy shortages, companies that can benefit quickly must be companies that have renewable energy projects. In the next three years, China’s wind power and solar equipment manufacturers will face an explosive growth market. Bio-diesel, fuel ethanol, biomass-based power generation listed companies are also expected to become the new darling of the capital market.
However, as a whole, no matter whether it is a guaranteed project or a project that is under pressure, the country still has problems in terms of developing new energy, such as inadequate policies and incentives, weak technology development capabilities, and weak industrial systems. In this regard, Chen Deming, deputy director of the National Development and Reform Commission, said that the Chinese government will mainly take five measures:
First of all, the policy is actively guided. The main implementation of the price policy is to establish a cost-sharing mechanism to share the cost of renewable energy over conventional energy sources across the country. Second, the implementation of fiscal and taxation preferential policies, including subsidies for the establishment of special funds for renewable energy projects, does not exclude tax relief. Third, cultivate the market. Including the force of market share and improvement of the market environment. For example, mandatory promotion of vehicle ethanol gasoline in some areas. Fourth, to strengthen the capacity building for renewable energy development is mainly to increase investment in scientific research and education, and strengthen personnel training. Fifth, strengthen the publicity on the significance of renewable energy and the methods and ways of using it, and increase the awareness of citizens of the entire society on the use of renewable energy.
Shi Dingxi, director of the China Renewable Energy Society, said that with the increasing depletion of oil and other fossil fuels and global warming caused by greenhouse gas emissions, it is not only the world that saves energy, increases energy efficiency, and develops and utilizes renewable energy. The inevitable trend of energy development is also an inevitable choice for China's energy strategy. He said that China's renewable energy has entered a period of rapid development.
Data show that in 2006 China's annual renewable energy use amounted to 200 million tons of standard coal (excluding biomass energy used in the traditional way), accounting for about 8% of total primary energy consumption. According to the "Mid-term and long-term development plan for renewable energy," by 2020 China's renewable energy will account for 15% of total energy consumption. In the next 30 to 50 years, as the demand for energy increases, the proportion of renewable energy in China's energy consumption will continue to expand.
People from the National Development and Reform Commission also stated that according to the plan, by 2010, the development and utilization of renewable energy in the country will be equivalent to 300 million tons of standard coal, and by 2020 it will be equivalent to 600 million tons of standard coal, which will significantly reduce coal consumption. And make up for the lack of natural gas and oil resources.
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