China will actively expand the use of geothermal energy as the world's biggest energy consumer seeks to adopt cleaner power sources for heating.
Vice Premier Zhang Guoqing told a conference on Friday,
In a statement by Reuters, Zhang said that China will also increase the scale of wind and solar power projects while safely advancing nuclear power plant construction.
Sinopec plans to add 75 million square metres of geothermal heating area to reach a target of 160 million square metres by the end of 2025, Ma Yongsheng, chairman of state-owned refiner Sinopec, said at the same conference.
The company already has a geothermal capacity of over 85 million square metres after 11 years of development, added Ma.
Clean power sources in northern China, including geothermal, have contributed to improving air quality, said Zhang Jianhua, Director of the National Energy Administration of China.
China's National Energy Administration has proposed increasing the geothermal heating-cooling area by 50 per cent in the next five years from 2020 and doubling the geothermal power generation capacity.
The tech-heavy Nasdaq Composite index was set to confirm it was in a bear market on Friday, down more than 20 per cent from a recent record high, as investors fled riskier assets on fears that tariffs imposed by President Donald Trump could spark a trade war and tip the global economy into recession.
UAE-based Dana Gas and Crescent Petroleum, alongside their partners in the Pearl Petroleum consortium, have said the cumulative production from their Khor Mor project, the largest non-associated gas field in Iraq, has exceeded 500 million barrels of oil equivalent (boe).
China has announced a slew of additional tariffs and restrictions against US goods as a countermeasure to sweeping tariffs imposed by US President Donald Trump. The Finance Ministry said it would impose additional tariffs of 34 per cent on all US goods from April 10.
Stocks limped to the end of the week on Friday, the dollar was set for its worst week in a month while gold flirted with a record peak as investors feared US President Donald Trump's sweeping tariffs would tip the global economy into a recession.
US stock index futures tumbled on Thursday after President Donald Trump's sweeping tariffs on major trade partners heightened fears of an all-out trade war that could push the global economy into a recession.
The Ministry of Justice said seven companies reportedly based in the UAE and sanctioned by the United States for ties to Sudan do not operate in the country.
Dubai Police announced on Friday it arrested 222 beggars during Ramadan and Eid, after a campaign was launched under the slogan “An Aware Society, Free of Begging,” in partnership with other government entities.