Solar panels in Shanghai. Photo: iStock

China will strengthen the construction of projects that facilitate wind and solar power to connect to the grid with price parity, the country’s National Energy Administration (NEA) says.

China will implement subsidy-free projects for wind and solar power to further increase installed capacity and power output by renewables to boost energy transformation, according to a circular jointly released by the NEA and the National Development and Reform Commission.

In 2020, the installed wind power connected to the grid will hit 11.4 million kilowatts, with solar reaching 33.1 million kilowatts. These projects will drive investment totaling about 220 billion yuan (US$31.54 billion) and create new jobs, the NAE said.

To foster a sound environment for the industry, the administration says it will enhance cooperation with related authorities and strengthen monitoring of the development and construction of such projects.

Property-insurance sector

China’s top insurance regulator has unveiled a three-year action plan to promote the high-quality development of the property-insurance industry.

By 2022, China aims to forge a complete market system for the property-insurance sector, with the further enhancement of its service capabilities and financial strength, according to the document issued by the China Banking and Insurance Regulatory Commission (CBIRC).

China’s property-insurance market has been transitioning from fast growth to high-quality development, increasing the urgency of strengthening top-level design and rolling out overall regulation measures, said the CBIRC.

Efforts will be made to improve the governance of insurance firms as well as boost innovation in the sector and its ability to serve national economic and social development.

China will expand the opening-up of the sector, implement major financial opening-up measures and accelerate the development of the reinsurance market, according to the document.

IC, software industries

Policies will be made to further optimise the development environment of the integrated circuit (IC) industry and the software industry, deepen international cooperation in the industries and enhance their innovation capabilities and development quality, according to a statement released by the State Council.

The measures include tax incentives for companies in the IC and software industries, financial support from government-invested funds and improved intellectual property rights protection for the firms, as well as policies to promote related research, trade, education, market application and international collaboration.

IC and software companies of all ownership types that were set up in China can enjoy the policy incentives, the statement said, adding that China will improve its business environment for international companies in the fields to invest and develop.

Relevant government departments and local governments are required to formulate matching policies as soon as possible to push the high-quality development of the industries, the statement said.

Company news

Shenzhen-based Huawei Technologies on Wednesday released the industry’s first F5G-supported industrial-grade intelligent optical terminal (Huawei Starlight Series Tianji T863E) and the next-generation hard pipeline technology liquid optical transport network to accelerate the digital transformation of enterprises.

At the same time, Huawei officially launched the “Starlight Plan” and announced that it will invest 2.5 billion yuan in the ecological construction of all-optical industry in the next five years. F5G is the fifth-generation fixed network technology, also known as F5G all-optical network. Similar to 5G, it is a new generation communication standard proposed by the International Standards Organization for industrial internet application scenarios.

The stories were written by Yang Zhijie and Liu Licong and were first published at ATimesCN.com. They were translated by Nadeem Xu.

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