Another major step forward has been made regarding the internationalization of the renminbi also known as the yuan after Iraq's central bank announced a plan to allow direct renminbi settlement for the first time for trade with China.
China's exports of solar modules are expected to gain further momentum this year, buoyed by increasing global demand amid green energy transition as well as Europe's plan to cut energy imports from Russia, said industry analysts.
China's newly installed combined wind and solar power capacity reached a record 125 million kilowatts last year, bringing the tally of total installed capacity to over 1.2 billion kW, as the country stepped up efforts to ensure energy security while facilitating green energy transition, the National Energy Administration said on Monday.
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The huge Xinjiang Uygur autonomous region, with vast desert expanses of strong winds and intense sunshine, has become a pioneer in the country's new energy drive. It is turning its natural endowments into power for a greener future.