One of China’s largest state investment companies vowed to stop plowing money into new coal-fired plants, joining a global shift by financiers away from the polluting fossil fuel.
But while State Development & Investment Corp.’s withdrawal is in line with China’s broader ambition to use less coal and more cleaner fuels, it is far from marking a widespread shift away from the cheap and plentiful energy source that will provide the bulk of the country’s power for years to come.
In its battle against smog-filled skies, the world’s biggest coal consumer is seeking to bolster use of natural gas and ...