China makes it official: No more coal

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From the AFR:

China’s coal use will be permitted to grow by only 5 per cent over the next seven years after the world’s biggest polluter unveiled a cap on coal consumption for the first time.

The State Council – China’s Cabinet – said the country’s annual coal use would be halted at 4.2 billion tonnes by 2020.

Last year, China burned 4 billion tonnes of coal, with around 9 per cent being imported, according to the state-run China Daily.

That’s that, then.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.