Business briefs from the Chinese media — Thursday September 8

Renewable energy now accounts for almost a third of China’s total energy capacity: According to the National Energy Administration, in the first half of the year, newly installed renewable energy capacity in China amounted to 65.02 million kilowatts (kW), accounting for 77% of total newly installed capacity. Total renewable energy generation capacity is now 1.52 trillion kilowatt-hours (kWh), accounting for 31.8% of total power generation capacity.

Textile exports momentum stopped: In August, China’s textile and apparel exports were $30.97 billion, up 2.9% year-on-year but down 6.8% month-on-month, ending a run of strong momentum over the preceding few months.

Cement industry pain: According to the interim reports of 25 A-share listed cement companies, in the first half of the year, 22 of the 25 companies reported net profit decreases, and nearly 70% of the companies reported declines in revenue at an average decrease of more than 23%.