China’s pledge to end building coal plants abroad improves Belt and Road’s reputation, development bank says

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China's pledge to stop building new coal-fired power projects overseas could improve the reputation of its massive Belt and Road Initiative, said the president of the Asian Infrastructure Investment Bank.Chinese President Xi Jinping made the pledge on coal on Tuesday at the United Nations General Assembly. He said China will support other developing countries to move toward to green and low-carbon energy, but did not provide further details."I think this is very much [an] important policy initiative taken by China," Jin Liqun, president of AIIB, told CNBC's "Squawk Box Asia" on Thursday."It could enhance the reputation of the Belt [and] Road Initiative," he added.Jin said Beijing has been grappling with how to balance demand from other countries for coal-fired power plants with its climate commitments. Xi said last year that China aims to become carbon neutral by 2060."Now, I think the decision is made," he said. "The next step is for China to do its utmost to export renewable
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