The 2026 Yabuli Forum Summer Annual Meeting was held in Chengdu, Sichuan from September 4 to 6. Liu Hanyuan, Chairman of the Board of Directors of Tongwei Group, explained that China consumes about 500 million tons of crude oil in transportation and 4.5 billion tons of coal every year. If necessary, China is in a position to speed up the completion of all clean-up and electrification replacements in the next 10 years. “If it were to be completely replaced in 20 years, the average annual investment amount would reach 10-20 trillion dollars. The new energy industry is expected to become a new powerful engine for economic development.”

The 2026 Yabuli Forum Summer Annual Meeting was held in Chengdu, Sichuan from September 4 to 6. Liu Hanyuan, Chairman of the Board of Directors of Tongwei Group, explained that China consumes about 500 million tons of crude oil in transportation and 4.5 billion tons of coal every year. If necessary, China is in a position to speed up the completion of all clean-up and electrification replacements in the next 10 years. “If it were to be completely replaced in 20 years, the average annual investment amount would reach 10-20 trillion dollars. The new energy industry is expected to become a new powerful engine for economic development.”