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RIYADH: China’s investments in solar power projects tripled in the first four months of 2022. On the other hand, the state-backed Blockchain-based Service Network is set to launch its first major international expansion. In another development, US President Joe Biden has left it up to the 13 countries which are part of his new scheme regarding economic engagement in Asia to decide whether China will be part of the plan. Meanwhile, stocks have slipped amid surging COVID-19 cases.
· China’s investments in solar power projects surged 200 percent in the period between January and April 2022 to stand at 29 billion yuan ($4.3 billion), Bloomberg reported, citing a statement from the National Energy Administration. The figure compares to 51.3 billion yuan invested in solar over the first 11 months of 2021.
· China’s state-sanctioned blockchain infrastructure project Blockchain-based Service Network is set to launch its first-ever major international expansion, CNBC reported. The firm intends to make the international version of its product — also referred to as Spartan Network — open source for people to examine. The product is projected to be made up of six public blockchains that do not operate with cryptocurrencies.
· US President Joe Biden has launched a scheme — referred to as Indo-Pacific Economic Framework for Prosperity — concerning US economic engagement in Asia as of Monday, leaving it up to the 13 founding countries to decide if China will ever get to join and how to implement the agreements, Reuters reported.
· After two consecutive weeks of gains, China’s stocks slipped on Monday as a result of new Covid-19 cases were reported in capital Beijing, Reuters reported. While the blue chip CSI300 index dropped 0.6 percent to stand at 4,053.98 points, the Shanghai Composite index SSEC remained almost flat standing at 3.146.86 points.