China ends state funding for new coal-fired power plants abroad: Xi Jinping

China will not finance any new coal-fired power plants abroad, Chinese President Xi Jinping said in prerecorded remarks delivered Sept. 21 at the United Nations General Assembly meeting.

"China will step up support for other countries in developing green and low-carbon energy and will not build new coal-fired power projects abroad," Xi said.

By ending state funding for new international coal-fired power projects, China will conform to one of the net-zero milestones of the International Energy Agency and echo a similar commitment made by the G7 nations earlier this year.

According to Xi, China will strive to peak carbon dioxide emissions before 2030 and to achieve carbon neutrality by 2060.

"We need to accelerate transition to a green and low-carbon economy and achieve greener recovery and development," Xi said. "This requires tremendous hard work, and we will make every effort to meet these goals."