(Bloomberg) — The average Chinese person can expect to live two years longer thanks to the country’s efforts to clean skies, according to a University of Chicago study.
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China has reduced air pollution by 41 percent in the decade to 2022 thanks to stricter government measures, the university’s Energy Policy Institute said in a report on Wednesday. The government’s National Action Plan on Air Quality was launched after harmful smog peaked in 2013 and calls for fewer cars on the roads, a reduction in steel production and a ban on coal-fired power plants in major metropolitan areas.
Other measures included promoting the use of renewable energy and switching from coal to cleaner-burning natural gas.
China is responsible for 20 percent of all global health problems related to air quality. According to the report, pollutant levels in the country are still 5.6 times higher than the World Health Organization’s guidelines. Only tobacco consumption poses a greater threat to life expectancy. If the WHO’s pollutant targets were met, the country’s average life expectancy would increase by another 2.3 years.
The government’s latest target, unveiled in November 2023, is to reduce smog in major cities by 10% by the end of next year compared to 2020 levels.
According to the report, air pollution is highly unevenly distributed around the world. People in the worst affected areas breathe six times more polluted air than people in the least affected areas. As a result, their life expectancy is reduced by an average of 2.7 years compared to people in the cleanest places.
On the wire
The downturn in China’s steel industry is likely to deepen: BHP Group Ltd., the world’s largest mining company, and China Baowu Group Ltd., the largest iron ore buyer, are raising concerns about slowing demand after decades of growth.
Fortescue Ltd. reported a small increase in annual profit, but the fourth-largest iron ore producer missed analysts’ forecasts as it struggled with inflationary pressures while also coping with a drop in demand for the steelmaking material from its biggest customer, China.
BHP Group Ltd. issued a cautious short-term outlook for copper, but maintained the widely held view that the energy transition metal would ultimately face severe shortages and significantly higher prices.
Diary of this week
(Unless otherwise stated, all times are Beijing.)
Wednesday, August 28:
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CCTD’s weekly online briefing on Chinese coal, 15:00
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PetroChina earnings call in Hong Kong, 16:00
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Qingdao Multinationals Summit, Day 2
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REVENUE: Cnooc, BYD, Gotion, Ganfeng Lithium, CNGR, Chalco, Jiangxi Copper
Thursday, August 29:
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Baosteel Online Prize Meeting in HK, 14:00
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Cnooc earnings call in HK, 16:15
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Qingdao Multinationals Summit, Day 3
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RESULTS: Longi, Tongwei, Windey, GCL-Poly, Hesteel, Shandong Steel, Maanshan Steel, GEM, Ningbo Shanshan, China MCC, Cosco
Friday, August 30
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Weekly iron ore stocks in Chinese ports
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CMOC Online Earnings Briefing, 10:00 a.m
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Weekly commodity inventory on the Shanghai Stock Exchange, around 3:00 p.m.
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REVENUE: Tianqi, Jinko, JA Solar, Ming Yang, Yangtze Power, Three Gorges, Shenhua, Angang Steel, Citic Ltd.
Saturday, August 31
Sunday, September 1st
– With support from Rob Verdonck.
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