Beijing, November 25 (WNM) - After benefiting from generous subsidies for more than a decade, China slashed subsidies for solar panel projects in the middle of last year and reduced them for wind, resulting in an abrupt shift, writes the Financial Times (https://www.ft.com/content/be1250c6-0c4d-11ea-b2d6-9bf4d1957a67).

The change in policy is reflected in the renewable energy sector: Chinese investment in clean energy are falling - from $ 76 billion in the first half of 2017 to $ 29 billion in the first half of this year, according to Bloomberg New Energy Finance.

China is both the most environmentally friendly and the most polluting country in the world. It has more wind and solar energy than any other country, and is also the world's largest builder of new coal-fired power plants.

The country's emissions reached a record high last year, accounting for more than half of the global increase in energy-related CO2 emissions in 2018, according to the International Energy Agency. Chinese emissions are expected to rise by around 3 percent this year, compared to 2018.