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February 15, 2014

U.S., China agree to work on climate change

China and the United States pledged on Saturday to work together to attenuate the effects of global climate change. "China and the United States will work together ... to collaborate through enhanced policy dialogue, including the sharing of information regarding their respective post-2020 plans to limit greenhouse gas emissions," according to a U.S.-China joint statement issued at the end of U.S. Secretary of State John Kerry's whirlwind Beijing visit. (Reuters)
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February 15, 2014

Wanxiang wins Fisker asset auction with $149 million bid

China’s Wanxiang Group won an auction for Fisker Automotive Holdings Inc., the maker of luxury plug-in hybrid cars, with a $149.2 million bid, almost six times what Fisker was seeking when it filed for bankruptcy. (Bloomberg)
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February 14, 2014

China to reward cities and regions making progress on air pollution

Chinese officials announced Thursday that they were offering a total of 10 billion renminbi, or $1.65 billion, this year to cities and regions that make “significant progress” in air pollution control. (New York Times)
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February 14, 2014

Progressive gas tariff proposed

A proposal for the introduction of a residential progressive gas tax; similar to recent changes in water pricing, has been submitted to the State Council. There is a possibility for pricing changes to take effect later this year. (South CN)
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February 13, 2014

BP Drops Plans to Invest in China Refinery Project, IEA Says

BP Plc dropped plans to invest in the 200,000 barrel-a-day Qinzhou plant operated by PetroChina Co. (857), according to the IEA. “Growing concerns over the risks of oversupply in the Chinese fuels market have led at least four projects to be canceled in recent months,” according to the report. (Bloomberg)
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February 13, 2014

Six China shadow banks threatened with default over coal firm exposure

Six Chinese trust firms have lent more than 5 billion yuan ($824.6 million) to a delinquent coal company, state media reported on Friday, raising the prospect of further defaults in China's so-called shadow banking system. (Reuters)
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February 13, 2014

Gasoline replaces gasoil as China's driver of oil demand growth

China's ongoing macroeconomic reforms are heralding a structural change in its oil product consumption mix with sluggish gasoil demand compensated by gasoline, which has become the main driver of overall oil demand growth in the country. (Platts)
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February 13, 2014

China puts aviation biofuel into commercial use

China’s civil aviation regulator on Wednesday granted a license to the nation’s top refinery for its self-developed aviation biofuel, effectively giving a green light to the large-scale commercial use of the environmentally friendly energy. The permission is the first of its kind in China. (SCMP)
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February 13, 2014

New energy vehicle sales set at 160,000 for 2014 in China

A latest announcement from the central government includes 12 more cities in a program to advance the use of environmentally friendly cars, taking the total number of cities and regions involved to 40. The Ministry of Finance has demanded that local authorities speed up improvements to infrastructure and forbade any preferential treatment for local auto makers. (Xinhua)
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February 13, 2014

Changsha Meixi Lake Elementary School passes LEED-School Gold certification

The Changsha Meixi Lake Elementary School recently passed LEED-School Gold Certification, the first project in China to achieve such status. (Energy World/China Green Building Net)
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