China boosts EV profits, rejects Ming Yang, affirms
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- China will "unwaveringly" pursue a low-carbon pathway, according to environment vice-minister Li Gao at the China Development Forum (China Economic Times).
- Wang Jinsong, deputy director of the National Energy Administration, stated China's energy system will prioritize "multi-energy" sources and "risk resilience" (BJX News).
- Liu Shijin, advisor at the China Council for International Cooperation on Environment and Development, called for "accountability mechanisms" and "quantitative" emissions reduction targets (Sina Finance).
- Premier Li Qiang acknowledged trading partners' concerns over Chinese industrial exports, but consultancy Trivium China noted the broader message at the CDF was "Yes, we’ve got an export-oriented growth model. Deal with it."
- Chinese climate envoy Liu Zhenmin expects the US to rejoin the Paris Agreement and stated the Middle East conflict will "definitely" not cause an oil/gas crisis in China but has spurred the government to "speed up the energy transition" (Bloomberg).
- Sinopec saw a 36.8% profit decline in 2025 due to "rising substitution by new energy" and "weak" demand, a trend also seen by China's other two largest oil and gas companies.
Why it matters: China's commitment to a low-carbon pathway will accelerate due to Middle East conflicts, despite 2025 profit declines for major oil companies.
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