SOURCE / ECONOMY
Shares themed on carbon neutrality post gains in morning trading on Tuesday
Published: Mar 02, 2021 02:03 PM
Wind turbines run smoothly in Qitai county in Northwest China's Xinjiang Uygur Autonomous Region. Bordering Mongolia and located east of the Altay Mountains, the county is known as the hometown of wind for its strong year-round gusts that sometimes annoy residents. With investment by wind power enterprises, the county has become a new energy base with an annual capacity of 1.7 million kilowatts. Photo: cnsphoto

Wind turbines run smoothly in Qitai county in Northwest China's Xinjiang Uygur Autonomous Region. Bordering Mongolia and located east of the Altay Mountains, the county is known as "the hometown of wind" for its strong year-round gusts that sometimes annoy residents. With investment by wind power enterprises, the county has become a new energy base with an annual capacity of 1.7 million kilowatts. Photo: cnsphoto

Proposals and motions by deputies to the national legislature and members of the top political advisory body are fueling a surge in carbon-neutrality-themed shares in the Chinese stock markets on Tuesday morning, making the sector a bright spot as the Shanghai benchmark stock index dropped 0.99 percent.

At the close of morning trading on Tuesday, 27 companies under the carbon trading category posted a combined gain of 3.2 percent, leading all the other sectors, according to financial news portal sina.com.cn. 

Shares in wind energy and recycling economy categories posted the second and third largest gains during the morning, gaining 0.98 percent and 0.87 percent.

Roadmaps and key points to achieve China's ambitious carbon neutrality goals are becoming a major focus of discussion during China's forthcoming annual two sessions.

Zeng Yuqun,a member of the Chinese People's Political Consultative Conference (CPPCC) National Committee and founder and chairman of Contemporary Amperex Technology (CATL), suggested the country takes a five-prong approach to ensure its carbon neutrality goal.

Zeng proposed the deepening power sector market reforms, building up cloud-based energy storage platforms, the installations of more large-scale energy storage facility and power generation from new-energy sources, according to a proposal by Zeng seen by the Global Times on Tuesday.

CATL is one of the world's largest suppliers of batteries for electric vehicles. 

Zhang Tianren, National People's Congress (NPC) deputy and chairman of Tianneng Co, a battery maker based in East China's Zhejiang Province, suggested the nation to aggressively develop smart-technology-empowered energy storage facilities in hand with new-energy power generation units and the use the function of the former to make up the disadvantage of the latter. Zhang suggested to include energy storage into the energy section of the 14th Five-Year Plan (2021-25) to guide the benign development of the sector.

Boosted by a focus put forward by NPC deputies and the CPPCC national committee members, shares of Shanghai-listed Sinoma Energy Conservation, specialized in generating electricity from cement making process, rose to daily limit of 10 percent during morning trading on Tuesday. 

State Grid Yingda Co, a low-carbon and energy-saving services provider affiliated with State Grid Corp of China, saw its shares rose 9.93 percent on Tuesday morning.

A number of new-energy and environmental protection sector companies, including the Shouhang High-tech Energy Co and Hebei Sailhero Environmental Protection High-tech Co, also saw their shares rise aggressively on Tuesday morning.


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