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Regulators want to accelerate the diversification of energy storage technologies. On Friday, the energy regulator (NEA) announced a national pilot program for deploying new-type energy storage (NES) projects.  Some context: Unlike stable power sources, such as coal-fired power, the intermittent...



More recent developments

Logo June 26, 2026
National Audit Office flags special-purpose bond misuse

Some local governments are exaggerating projected returns on investment to secure special-purpose bond (SPB) funding. ICYDK: SPBs are local governments’ primary vehicle for supporting infrastructure investment. Every March, the finance ministry (MoF) authorizes an annual SPB quota for provincial-level authorities,… Read More »

Logo June 26, 2026
Central bank to ramp up overnight reverse repos

China’s central bank (PBoC) plans to ramp up its overnight reverse repo operations, a move that likely lays the foundations for a new policy rate. In a notice published June 25, the PBoC announced it will increase its issuance of… Read More »

Logo June 26, 2026
Local governments inflate revenue to hit KPIs

Local governments are inflating their fiscal revenue data. Per the National Audit Office’s (NAO) 2025 budgetary implementation audit report – published June 24 – 21 provinces and municipalities artificially inflated fiscal revenue last year by a combined RMB 60 billion.… Read More »