China's National Development and Reform Commission and National Energy Administration have issued the 15th Five-Year Plan for Building a New-Type Power System, requiring existing coal-fired units to undergo wide-load high-efficiency retrofits and limiting the coal consumption increase under low-load operation to within 25%. The plan supports coal power and new energy integration projects, and calls for flexibility retrofits of all eligible existing units by 2030. Combined heat and power units must achieve minimum power output below 40%, with heat-power decoupling encouraged to maintain stable heating.
China's goods exports in 2025 totaled nearly RMB 27 trillion, up 6.1% year on year, with ASEAN accounting for 17.64% of total exports. Chinese firms are expanding across ASEAN in electronics, new energy vehicles, digital economy, cross-border logistics, and solar. Singapore remains a top regional headquarters choice despite high costs, with companies like Global Transport and Logistics serving 2,600 multinationals and setting up regional hubs. The city-state offers an international headquarter scheme with a 10% preferential tax rate, while a global minimum tax of 15% applies to large firms.
The National Development and Reform Commission has issued the 15th Five-Year Plan for Circular Economy Development, targeting an output value of 8 trillion yuan from the resource recycling industry by 2030. The plan aims to raise main resource productivity by about 16% from 2025 levels, when it was already 77% higher than in 2012. It also outlines measures to improve recycling of spent power batteries, wind turbines, and photovoltaic panels as large-scale decommissioning begins.