Trump says China panicked; markets slide deeper
US President Donald Trump on Friday said China had “panicked” by retaliating to his reciprocal tariff with a matching levy of 34 per cent on all imported goods from America.
A 483-MW gas-steam combined heat and power (CHP) plant built by a China-Russia joint venture has been officially brought online, China's Huadian Corporation announced here.
The CHP is the tangible result of the Huadian-Teninskaya joint project, which was launched by China Huadian Hong Kong Co. Ltd. and Russia's second regional power company TGC-2 in 2011, with a total investment of $571 million, Xinhua news agency reported on 20 June.
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As China's largest electricity project in Russia, the project was designed to generate 3.02 billion KWH of electric energy and 814,000 Giga of heating supply annually.
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"The completion of the Huadian-Teninskaya project is of great significance to the Yaroslavl Province. It will improve the living quality of local citizens," acting governor of the Yaroslavl Province Dmitry Mironov said during the operating ceremony held on the project site.
Listed as a priority project in 2014 by Yaroslavl authorities, the new CHP plant is expected to tackle the province's chronic problem of power shortages. According to TGC staff, the project will bring down Yaroslavl's power deficit from 40-50 per cent to 5-15 per cent and fully cover its total power demand in warmer months.
The project is widely seen as a symbol of further deepening of cooperation between China and Russia in the field of electric power.
According to General manager of the China Huadian Corporation Wen Shugang, China Huadian Corporation will devote more efforts in exploring global energy markets in the future, including Russia.
Russian Deputy Energy Minister Kirill Molodtsov said on the ceremony that the Russian government welcomes the entrance of Chinese companies including Huadian into its local markets.
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