China to lift restrictions on foreign investment in energy sector, to continue to phase out subsidies for clean energy due to falling costs

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China will open its energy sector wider to foreign investment as part of its plan to ensure security and prioritise the development of renewables.

Investment restrictions will be lifted on coal, oil, gas, power generation – except nuclear – and new energy businesses during the 14th five-year plan period between 2021-25, said Zhang Jianhua, head of the National Energy Administration, after China released a White Paper for its energy sector development.

Meanwhile, the government will continue to phase out subsidies for clean energy like solar and wind power due to rapidly declining costs and let . . .

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