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Hallam Chow is a partner of Mayer Brown LLP and Head of Projects, China of Mayer Brown's Beijing office. His practice primarily involves project finance, structured finance and energy & infrastructure and oil & gas joint ventures, as well as bank & acquisition finance and asset-based finance, including aircraft, equipment and facility leasing.

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After China’s annual Two Sessions in March, policy directives by departmental ministries and provincial governments on energy transition have come into shape. The first quarter of 2021 saw the country experiencing a steady upsurge in renewable energy capacity with a total installed capacity of renewable energy amounting to 948 million kilowatts from 794 million kilowatts by the end of 2019. As China progresses towards the carbon neutrality goal of peaking carbon emissions before 2030 and reaching carbon neutrality in 2060, the local directives supply more details to the 14th Five Year Plan (the “Plan”).

Continue Reading PART II. Key Policy Directives for China’s Energy Transition: Implementation of the National 14th Five Year Plan

In December 2020, the State Council Information Office of China published a white paper titled Energy in China’s New Era. The white paper presents China’s achievements and goals in energy development and outlines the strategies, and policies for future energy reform.

People-Centered Goals – Clean Energy, Clean Living

The white paper stresses that the

“There are many things from which I might have derived good, by which I have not profited, I dare say,’ returned the nephew. ‘Christmas among the rest. But I am sure I have always thought of Christmas time, when it has come round—apart from the veneration due to its sacred name and origin, if anything belonging to it can be apart from that—as a good time; a kind, forgiving, charitable, pleasant time; the only time I know of, in the long calendar of the year, when men and women seem by one consent to open their shut-up hearts freely, and to think of people below them as if they really were fellow-passengers to the grave, and not another race of creatures bound on other journeys. And therefore, uncle, though it has never put a scrap of gold or silver in my pocket, I believe that it has done me good, and will do me good; and I say, God bless it!”  A Christmas Carol, Charles Dickens

As 2020 ends and the festive season is dampened by a growing number of COVID-19 infections, one might say “Bah Humbug” to an unforgettable year that one might wish to forget. What does 2021 hold for the world beyond COVID-19 and the future of the US-China relationship? Will the Ghost of Christmas Yet to Come be “dark and mysterious”, “faceless” and present “the unknown, and the fear inherent” or can the world come together again for a better Christmas in 2021?

Continue Reading Belt and Road Initiative – The Green and Clean Road Beyond COVID-19

On September 22, 2020, Chinese President Xi Jinping announced in his speech to the UN General Assembly that China’s carbon emission would peak before 2030 and the country would become carbon neutral in 2060.

  • As the world’s second largest economy, China produces about 28% of the world’s emissions, with coal remaining its primary